Petrotahlil - The OPEC+ alliance and Mexico made some progress in their discussions on oil-production cuts on Saturday, the third consecutive day of negotiations, but cautioned it was unclear whether the group would reach a final deal, delegates said.
OPEC+ has proposed curbing output by 10 million barrels a day as demand collapses due to the coronavirus. So far, Mexico is holding out, seeking fewer reductions than the proposal would require. Saudi Arabia insists Mexico should cut its production as much as everyone else in the group. U.S. President Donald Trump has stepped in to try to broker a truce.
The alliance initially met on Thursday via video conference, followed by a
virtual gathering of energy ministers of the Group of 20.
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