OPEC + Member Countries plan to maintain restrictions enforced to cut oil production after June, according to Reuters.
On 12 April, OPEC + Member Countries agreed to cut oil production at a video conference, with the agreement involving cumulative reduction of oil production in May and June to 9.7 million barrel a day, and 7.7 million barrel in July and December, while in January 2021, to 5.8 million.
Per the article, the ministers want to comply with the agreement, which is now in force and envisages production of 10 million barrels a day. They do not want to cut this amount.
OPEC+ plans to hold the next meeting in June to draw up their future action plan.
