Major oil producers except Mexico have agreed to cut output in May and June by 10 million barrels per day, OPEC said today, after marathon talks to counter collapse in prices.
   
The agreement, which reduces production to eight million barrels per day from July to December, depends on Mexico's support for it to take effect, the oil cartel said after a video-conference.
 
Global fuel demand has plunged by around 30 million barrels per day, or 30 percent of global supplies, as steps to fight the virus have grounded planes, cut vehicle usage and curbed economic activity.