OPEC & its allies agree to cut oil production by about 10% till July

Organization of the Petroleum Exporting Countries (OPEC) and allied nations have agreed to extend a production cut of nearly 10 million barrels of oil a day through the end of July, hoping to boost energy prices hard hit by the Coronavirus pandemic.   Ministers of the cartel and outside nations like Russia met via video conference to adopt the measure, aimed at cutting out the excess production depressing prices as global aviation remains largely grounded due to the pandemic. It represents some ...