Oman says will cut oil output by 200,000 bpd from May 1 as OPEC+ pact

News Image

MG News | April 14, 2020 at 10:43 AM GMT+05:00

0:00

April 14, 2020: 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 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%.

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

Reuters

Related News

Name Price/Vol %Chg/NChg
KSE100 139,390.42
291.21M
0.71%
978.17
ALLSHR 86,260.96
576.29M
0.65%
558.00
KSE30 42,618.60
119.41M
0.86%
363.76
KMI30 196,907.86
123.77M
1.44%
2798.27
KMIALLSHR 57,276.87
259.26M
0.99%
563.20
BKTi 37,820.27
20.77M
-0.03%
-11.06
OGTi 28,214.64
47.07M
2.82%
774.00
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,580.00 119,785.00
117,370.00
-40.00
-0.03%
BRENT CRUDE 71.68 72.82
71.00
-0.79
-1.09%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.27 70.41
68.56
-0.73
-1.04%
SUGAR #11 WORLD 16.35 16.61
16.28
-0.10
-0.61%

Chart of the Day


Latest News
July 31, 2025 at 09:37 PM GMT+05:00

Pakistan's Forex Reserves Decrease by USD 310.50 Million


July 31, 2025 at 05:47 PM GMT+05:00

Public grievance system introduced at EDB


July 31, 2025 at 05:18 PM GMT+05:00

PKR rises by 8 paisa against USD


July 31, 2025 at 04:57 PM GMT+05:00

Gold takes a Rs2,000 per tola hit



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg