Egypt Independent

Oman says will cut oil output by 200,000 bpd from May 1



DUBAI (Reuters) — Oman has told its oil producing companies to cut 200,000 barrels per day starting from May 1 until the end of June in line with the OPEC+ crude supply reduction pact and will inform its customers of the same plan, its oil ministry said.

OPEC and allies led by Russia, a group known as OPEC+, agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by up to 20 percent.

Gulf oil producer Oman is a member of the OPEC+ alliance.

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Reporting by Rania El Gamal; Editing by Kim Coghill

Image: Mohammed bin Hamad Al Rumhy, Oman’s Minister of Oil and Gas, arrives at a meeting between OPEC and non-OPEC oil producers. (Reuters/Ibrahem Alomari December 02, 2018)