Barely a month after the Opec+ production agreement collapsed in acrimony in Vienna on 6 March, the group has reached a preliminary agreement which would see millions of barrels removed from the market. The biggest caveat is that the deal – finalized in the early hours of 10 April during a video conference which began on 9 April – remains contingent on Mexico signing up.

As MEES went to press, the situation was still not finalized, but Mexico’s president had stated that following talks with Mr Trump, the US will cut 250,000 b/d on behalf of Mexico. (CONTINUED - 1077 WORDS)