G20 Energy Summit statement does not mention size of output cut – Reuters

Dhwani Mehta FXStreet

Citing a delegate from the G20 energy ministers extraordinary meeting held on Friday, Reuters reports that the statement after the meeting is said to be generic and does not mention the size of the output cut.

The G20 talks were expected to seal the output cuts deal more widely with non-OPEC producers in the group including Mexico, the United States and Canada.

Meanwhile, the OPEC+ talks with Mexico are likely to continue on Saturday. Mexican Energy Minister Rocio Nahle Garcia said that her country had suggested a cut of 100,000 barrels per day (bpd). Meanwhile, the other producers from the OPEC+ are proposing Mexico a cut of 400,000 bpd.

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Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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