Mexico President Andres Manuel Lopez Obrador Says Reached Deal With Donald Trump to Cut Crude Oil Output
Mexico will cut production by 100,00 barrels per day (bpd), President Andres Manuel Lopez Obrador said, adding that it was Trump who reached out to him. 'Trump communicated with us,' he told a press conference.
Mexico City, April 10: The president of Mexico -- the lone holdout in an OPEC-led deal to cut crude production -- said Friday he has reached a deal with President Donald Trump to reduce oil output.
Mexico will cut production by 100,00 barrels per day (bpd), President Andres Manuel Lopez Obrador said, adding that it was Trump who reached out to him. "Trump communicated with us," he told a press conference. Canada's Job Losses Since March Top 1 Million, Unemployment at Peak Due to Coronavirus Pandemic.
Under the OPEC deal, Mexico was to cut its output by 400,000 bpd. But Mexico resisted, and wanted the reduction limited to 100,000. Lopez Obrador said Friday that Trump agreed to cut US production by 250,000 bpd "as compensation" for Mexico.
(The above story first appeared on LatestLY on Apr 10, 2020 08:09 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).