Search ForexCrunch

A delegate from the OPEC and non-OPEC producers (OPEC+) talks was quoted by Reuters, saying that the talks with Mexico will continue on Saturday.

The delegate added that OPEC+ and Mexico had made further progress.

This comes after a delegate from the G20 energy ministers meeting said that Mexico’s position on OPEC+ deal is unchanged. OPEC+ asked Mexico to cut production by 400K barrel per day (bpd) against the latter’s 100K bpd proposal.

Meanwhile, the Mexican President Andres Manuel Lopez Obrador said that his American counterpart Donald Trump offered Mexico compensation for 350K bpd cut and that the US will make extra 250K bpd cuts to support the South American country.