RIYADH (AFP) - G-20 energy ministers pledged to work together to ensure oil 'market stability', in a statement released on Saturday (April 11) after a virtual summit hosted by Saudi Arabia that did not mention production cuts.. Read more at straitstimes.com.
RIYADH - G-20 energy ministers pledged to work together to ensure oil"market stability", in a statement released on Saturday after a virtual summit hosted by Saudi Arabia that did not mention production cuts.
The standoff had cast doubt on efforts to bolster oil prices, pushed to near two-decade lows by the demand-sapping coronavirus pandemic and a Saudi-Russia price war that rattled global markets. "We commit to ensure that the energy sector continues to make a full, effective contribution to overcoming Covid-19 and powering the subsequent global recovery," the statement said.
Under the deal, Mexico was expected to cut production by 400,000 barrels per day but the country resisted during the overnight talks.
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