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Saudi-Russia Oil Deal Under Threat as Mexico Walks Out of OPEC+ Talks [Yahoo! Finance News]

Exxon Mobil Corporation (XOM) 
Last exxon mobil corporation earnings: 5/1 07:34 am Check Earnings Report
US:NYSE Investor Relations: ir.exxonmobil.com
) -- An agreement between Saudi Arabia and Russia for record oil-production cuts was endangered late on Thursday as Mexico refused to participate in the curbs and left the meeting without approving the deal.The impasse, which came after more than 9 hours of talks via video link, cast doubt over a global effort to revive the oil market from a debilitating coronavirus-induced slump. The OPEC+ group won’t cut output without Mexico’s participation and doesn’t intend to meet again on Friday, instead focusing on talks at the G-20 gathering also scheduled that day, according to a delegate.Earlier on Thursday, OPEC+ had tentatively agreed to cut production by about 10 million barrels a day in May and June, delegates said, effectively ending a one-month oil price war. Saudi Arabia and Russia, the biggest producers in the group, would each take output down to about 8.5 million a day, with all members agreeing to cut supply by 23%, one delegate said.Attention should have turned on Friday to the Show less Read more
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