Home Saudi OilMin: OPEC+ output cuts ‘hinges on’ Mexico joining the pact
FXStreet News

Saudi OilMin: OPEC+ output cuts ‘hinges on’ Mexico joining the pact

OPEC+ output cuts ‘hinges on’ Mexico joining the pact, said Saudi Arabia’s Energy Minister Prince Abdulaziz on Friday.

Further comments

Hopes Mexico would see the benefit of the OPEC+ agreement

Expects nations such as US, Brazil, Canada, and others to join OPEC+ effort to stabilize the oil market ‘using their own approaches’

Oil-price reaction

The US oil trades heavy near 23.20, having hit a new five-day low at 22.60 after Mexico turned down the OPEC+ output cuts agreement late Thursday.

FX Street

FX Street

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions.