a Historic deal OPEC+ reduction of oil production in the world, to preserve the stability of the world market in may was carried out by 89%, according to a June review of the International energy Agency (IEA). Saudi Arabia has vypolnila deal on 100% Russia 97%.
OPEC Countries may fulfil their obligations by 86%, countries outside of OPEC, 94%.
oil Producers in the Persian Gulf has reduced production at 90% of their quotas. Algeria, Congo, Equatorial Guinea reduced output more than the approved quota. Mexico in may decreased production by 140 thousand barrels per day, unexpectedly Perepyolkin its quota by 65%. In the list lagging — Gabon (40 percent of quota), Iraq (46%), Kazakhstan (73%), Angola and Nigeria (74%).
March 6, 2020, it became known about the termination of previous agreements OPEC+ 1 APR. In the end, oil prices fell more than 2 times. But OPEC and its allies, headed by Russia, together with the acceding countries 10-12 April 2020 agreed to remove from the market the surplus of oil starting may 1. In the end, the framework of OPEC+ 23 countries agreed to cut production together at 9.7 million barrels per day in may-June. 9 more countries outside OPEC+ announced plans to reduce production to maintain a transaction — by 3.6 million barrels per day. Earlier, the Ministry of energy of Saudi Arabia has instructed Saudi Aramco to reduce the oil production in June by another 1 million barrels per day in addition to the reductions agreed under the deal, OPEC+. Then the deal was extended for another month.