G20 Oil Nations Agree To 3.7 Million Bpd Cut

Oil producers from G20 have agreed to reduce their combined crude oil output by 3.7 million bpd, according to Iran’s Oil Minister, Bijan Zanganeh, as quoted by IRNA. G20 met on Friday to discuss oil production, but reports from that day revealed that the group had failed to agree on a specific number. “To underpin global economic recovery and to safeguard our energy markets, we commit to work together to develop collaborative policy responses,” the group’s energy ministers said in an official statement.…