ShippingWatch

Opec+ countries cut production by ten percent

The group of major oil exporters known as Opec+ agrees to reduce oil production by 9.7 million barrels per day.

Photo: ANGUS MORDANT/REUTERS / X06552

The major oil producing countries agree to reduce oil production by 10 percent in May and June, confirm several parties including the Iranian oil minister on Twitter.

Sunday, the Organization of Petroleum Exporting Countries (Opec), Russia and other major oil exporters agreed to a record-large production cut. This is done to strengthen the price of oil.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

IKEA sustainability manager: Green solutions should not cost more

As a starting point, furniture giant Ikea won't accept that green solutions become more expensive than polluting solutions, says Elisabeth Munck af Rosenschöld, Global Sustainability Manager for Supply Chain Operations, to ShippingWatch. Ikea is part of an alliance of global companies that calls for green shipping by 2040.

Long Beach logjam of container vessels grows to 80

Bottlenecks at major US container ports in continue to grow, with the ports of Long Beach and Los Angeles being the worst hit at the moment. Here, 80 vessels are waiting to berth, according to new figures form Vessels Value.

Further reading

Related articles

Trial banner

Latest news

See all jobs