Mexico ends oil standoff with OPEC [Yahoo! Finance News]
Continental Resources, Inc. (CLR)
Last continental resources, inc. earnings: 2/26 04:15 pm
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Source: Yahoo! Finance News
Mexican President Andres Manuel Lopez Obrador said Friday that his country will cut its crudeoilLopez Obrador, speaking at his daily press briefing, said President Trump “generously” offered for the U.S. to reduce output by an additional 250,000 barrels a day, according to The Wall Street Journal.OPEC was hoping Mexico would lower its output by 400,000 barrels a day, and the country's initial delay in joining the pact had jeopardized the arrangement.The White House did not immediately respond to FOX Business’ request for comment.AIRLINE INDUSTRY'S CORONAVIRUS BAILOUT MAY DRAW ON LESSONS OF 9/11U.S. producers cannot coordinate to lower output because doing so would run afoul of antitrust laws. Governments on the state or federal level would have to “mandate a production cut,” allowing the market to “answer this from a U.S. perspective,” Stephen Shorck, founder and editor of The Shorck Report, told FOX Business.Ahead of Thursday’s meeting, U.S. producers, including Continental Resources
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