OPEC prepared options for reducing oil production

US, WASHINGTON (ORDO NEWS) — Bloomberg reported that OPEC has prepared several options for reducing oil production , which will be proposed on April 9 at an OPEC + meeting. It will be held in a video conference format.

One option is to reduce production by 10 million barrels per day. It will be valid until the end of 2020. This proposal was previously made by the President of Russia Vladimir Putin.

Another option is that the group of producers refuses to reduce production. Demand for black gold will fall by 11.9 million barrels per day in the second quarter of this year, OPEC warns.

The day after the OPEC + meeting (April 10), a meeting of the heads of the G20 Ministry of Energy will be held on the stability of the energy markets. The final decision of OPEC + will depend on the results of these negotiations .


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