FACTBOX-Non OPEC+ crude oil supply cuts [Reuters]
Petroleo Brasileiro S.A.- Petrobras American Depositary Shares (PBR.A)
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Source: Reuters
FACTBOX-Non OPEC+ crude oil supply cuts April 13 (Reuters) - The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, agreed on Sunday to reduce output by 9.7 million barrels per day (bpd) for May and June in an effort to prop up oil prices as the coronavirus pandemic slashes fuel demand. But they aren’t alone. Numerous other nations have committed to bringing down worldwide supply, even though some are mostly talking about cuts that come in response to falling prices. In total, output cuts could total 19.5 million bpd, including G20 nations and oil purchases for reserves. Here is what non-OPEC+ countries have said: U.S. Secretary of Energy Dan Brouillette said last week he expected U.S. production to fall by roughly 2 million bpd by the end of 2020. The department’s forecasts suggest the declines will take more time. The U.S. Energy Information Administration (EIA) said in April that output should average roughly 11.1 million bpd at the end of 2021, down
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