Posted by tkl88 > 2020-04-03 01:52 | Report Abuse

Walaeh, Oil price up crazily !
As at 1.47am,
Nymex => $24.56 ‪(+4.25) (+20.93%)‬
Brent => $29.85 ‪(+5.11) (+20.65%)‬

Posted by tkl88 > 2020-04-03 02:17 | Report Abuse

Oil prices surge after Trump claims Russia and Saudi Arabia agree deal - as it happened

https://www.google.com.my/amp/s/amp.theguardian.com/business/live/2020/apr/02/markets-us-jobless-claims-covid-19-economy-recession-coronavirus-business-live

Rolling coverage of the latest economic and financial news as oil prices jump by more than 30% and the US jobless report reveals scale of coronavirus damage
* US president claims oil production cut deal; Russia denies agreement
* US initial jobless claims hit record; 6.6m people signed on last week
* Earlier: One in four UK firms cut staff levels
* Coronavirus – latest updates
* See all our coronavirus coverage

13:11 EDT
Closing summary: Trump sends oil prices rocketing and US jobless claims soar
Donald Trump sent oil markets into an unprecedented buying frenzy on Thursday afternoon, after tweeting that Saudi Arabia and Russia had reached a deal on production cuts.
Russia poured cold water on the details, saying there had been no deal, but it still put oil futures prices on track for the biggest daily rise ever. At the time of writing Brent crude futures prices had gained 22%.
Here are the other important developments from today:
* More than 6.6m Americans filed jobless claims last week, by far the largest number in history and an indication that unemployment could reach a record high. Economists said it was one of the starkest indications yet of the scale of the economic pain already inflicted on the US.

Posted by tkl88 > 2020-04-03 02:18 | Report Abuse

* In the UK, the experimental data from the Office for National Statistics said that a quarter of UK companies are already cutting staffing levels “in the short term” due to the coronavirus crisis.
* British Airways confirmed that it will cut capacity by 90% year-on-year for April and May and furlough 30,000 cabin crew.
* British Gas owner Centrica has joined the ranks of companies cancelling their dividends. It also announced £400m in spending cuts this morning.
* National Express cancelled all of its services across the UK.
And of course you can continue to follow all of our coverage of the coronavirus pandemic.
In the UK, health secretary Matt Hancock says the government has written off £13.4bn of historic NHS debt:

Posted by tkl88 > 2020-04-03 06:07 | Report Abuse

Dow Jones closed at=> 21,413.44 (+469.93) (+2.24 percent)

Posted by tkl88 > 2020-04-03 06:33 | Report Abuse

Oil surges 35% after Trump says he expects Saudi Arabia and Russia to end their price war
Shalini Nagarajan
Apr. 2, 2020, 05:51 AM

https://www.google.com/amp/s/markets.businessinsider.com/amp/news/oil-prices-jump-trump-comments-on-saudi-arabia-russia-deal-2020-4-1029057828

* Oil prices surged as much as 35% on Thursday after President Donald Trump said he expected Saudi Arabia and Russia to reach a deal that could end their price war and likely mitigate a sharp price collapse.
* Trump said he spoke with leaders in both countries as global demand for oil continues to evaporate while much of the world is in lockdown.
* A Saudi Arabia-Russia pact is expected to scale back a supply surge that led to US oil tumbling to an 18-year low earlier this week.
* Watch oil trade live here.

Posted by tkl88 > 2020-04-03 06:34 | Report Abuse

Oil rallied sharply on Thursday after President Donald Trump said he expected Saudi Arabia and Russia to cut back on oil production to save the drowning oil and gas industry.
Brent crude oil jumped as much as 47%, to $36.29, while West Texas Intermediate crude rose 35%, to $27.39, at intrasession highs. The resource started rallying on Wednesday after Trump first signaled a potential agreement between Saudi Arabia and Russia.
Trump provided different volume estimates in separate tweets, first mentioning a cutback of about 10 million barrels and then suggesting it could be "as high as 15 Million Barrels."
Trump said on Wednesday that he believed a deal would be reached within days. Such a deal is expected to lower production and bring prices back up.
Trump also said he had invited American oil executives to the White House to discuss measures to aid the oil industry, which has been hurt by a slump in demand due to both the coronavirus outbreak and the price war.
The oil strategy meeting would include CEOs from Exxon, Chevron, Occidental Petroleum, Devon Energy, Phillips 66, and Energy Transfer Partners, as well as the former Continental Resources CEO Harold Hamm, according to CNBC.

Posted by calvintaneng > 2020-04-03 08:19 | Report Abuse

SCOMIES NET NET ASSETS FAR MORE THAN LIABILITIES

THIS ONE SHOULD REBOUND HIGHER

IT MIGHT EVEN GO LIMIT UP IF DEBTS IMPASSE RESOLVED

Posted by lee_m2020 > 2020-04-03 08:37 | Report Abuse

Maybe now SCOMIES needs SCOMI back...

Posted by tkl88 > 2020-04-03 15:11 | Report Abuse

Yes, Brent oil turn positive liao !
Now Brent at=> 30.00 (+0.06) (+0.20% ) !

Posted by tkl88 > 2020-04-03 16:09 | Report Abuse

Wow, Oil price spike up crazily again !
As at 4.05pm,
Nymex => $25.46 (+0.14) (+0.55%)
Brent => $31.35 (+1.41) (+4.71%)

Posted by tkl88 > 2020-04-03 18:57 | Report Abuse

Wow, Amazing, Oil price continue to spike up !
As at ‪6.37pm,‬
Nymex => $26.52 ‪(+1.20) (+4.74 percent)
Brent => $32.77 ‪(+2.83) (+9.45 percent)

Posted by tkl88 > 2020-04-03 23:24 | Report Abuse

Walaoeh, Unbelievable !
Oil price spike up like mad !
As at 11.10pm,
Nymex => $27.19 ‪ (+1.87) (+7.39%‬)
Brent => $33.71 (‪+3.77) (+12.59%‬)

Posted by tkl88 > 2020-04-03 23:57 | Report Abuse

Oil surges 13% on reports that OPEC and allies are working on a deal to cut production amid the coronavirus pandemic
Carmen Reinicke
Apr. 3, 2020, 10:27 AM

https://www.google.com.my/amp/s/markets.businessinsider.com/amp/news/oil-price-surges-report-opec-meeting-production-cuts-coronavirus-pandemic-2020-4-1029063327

* Oil prices surged Friday, continuing gains from the best day on record Thursday. 
* US West Texas Intermediate crude surged as much as 13% to $28.56 per barrel Friday, while Brent crude jumped 17% to $34.91 per barrel at its intraday highs.
* A Reuters report that OPEC and its allies will meet Monday to discuss a production cut amid the coronavirus pandemic fueled the gains. 
* Watch oil trade live on Markets Insider.
* Read more on Business Insider.

Oil climbed on Friday, extending gains from the best day on record Thursday, after OPEC and its allies said they will meet Monday to discuss a production cut amid the coronavirus pandemic, according to a Reuters.
US West Texas Intermediate crude surged as much as 13% to $28.56 per barrel after gaining 25% Thursday. International benchmark Brent crude jumped 17% to $34.91 per barrel at its Friday intraday highs, continuing the previous day's 21% gain. 
The cut could be around 10% of global supply, Reuters reported Monday, citing an OPEC source. The meeting to discuss a potential deal to curb production came after President Donald Trump told CNBC Thursday he expected Saudi Arabia and Russia to announce a deal to drastically cut oil production.

Posted by tkl88 > 2020-04-04 06:39 | Report Abuse

Superb, Oil Price closed at new record high !‬
Nymex => $28.97 ‪(+3.65) (+14.42%)‬
Brent => $34.83 ‪(+4.89) (+16.33%)‬

‪Next week definitely will break the USD $40 per barrel !‬
Huat ah ! Heng ah ! Ong ah !

Posted by lauys96 > 2020-04-04 13:04 | Report Abuse

monday will move up

Posted by tkl88 > 2020-04-05 00:22 | Report Abuse

The alliance (OPEC+) is tentatively aiming to hold the virtual gathering on April 9 instead of Monday as it previously intended, a delegate familiar with the matter said.

Posted by tkl88 > 2020-04-05 00:23 | Report Abuse

Meeting suppose on April 6 (Monday), delayed to April 9 (Thursday).
So, got 3 more days for us to Sailang on O & G stocks before it’s share price spike up to sky high !
Huat ah ! Heng ah ! Ong ah !

Posted by tkl88 > 2020-04-05 06:57 | Report Abuse

普京证实俄愿减产 April 5, 2020
https://www.google.com/amp/s/www.enanyang.my/news/20200405/%25E3%2580%2590%25E5%2585%25A8%25E7%2590%2583%25E5%25A4%25A7%25E6%258A%2597%25E7%2596%25AB%25E3%2580%2591%25E6%2599%25AE%25E4%25BA%25AC%25E8%25AF%2581%25E5%25AE%259E%25E4%25BF%2584%25E6%2584%25BF%25E5%2587%258F%25E4%25BA%25A7/amp/

（莫斯科4日讯）俄罗斯总统普京表示，俄罗斯准备好与沙地阿拉伯和其他主要产油国一道大幅削减石油产量，以阻止油价下跌。这一表态呼应了美国总统特朗普之前的说法。

“我们做好准备在OPEC+框架内与合作伙伴达成协议，并准备与美国在这个问题是进行合作，”普京周五在与政府高级官员和石油行业高管的视频会议上说。
 “我认为有必要共同努力，以平衡市场并减少产量。”
普京说，俄罗斯认为全球石油产量每天减少约1000万桶是可能的，并准备“在伙伴关系”的基础上参与。
普京的表态是俄罗斯首次证实特朗普周四通过推文发布的消息。推文称俄罗斯愿意参与减产，该消息推动布伦特原油价格一度暴涨47%。

Posted by tkl88 > 2020-04-05 18:24 | Report Abuse

Yemen’s Saudi-aligned government says Houthis attacked oil pipeline pumping station in Ma’rib: Saudi Press Agency
/ The Mighty 790 KFGO | KFGO
Thomson Reuters
April 05, 2020 01:45 am

https://kfgo.com/2020/04/05/yemens-saudi-aligned-government-says-houthis-attacked-oil-pipeline-pumping-station-in-marib-saudi-press-agency/

DUBAI (Reuters) - The oil ministry of the internationally-recognized, Saudi-aligned government in Yemen said on Sunday the Iran-aligned Houthi group had attacked an oil pipeline pumping station in the province of Ma'rib, the state-run Saudi Press Agency reported.
The pipeline is operated by the Safer oil company, owned by Yemen's Saudi-aligned government, the agency added, without giving details on the attack. A spokesman for the Houthi group was not immediately reachable for comment.

(Reporting by Maher Chmaytelli; Editing by Mark Potter)

Posted by tkl88 > 2020-04-06 06:20 | Report Abuse

Dow Jones Futures spike up !
As at 6,15 am,
DJI futures at => 21,207.5 (+262.5) (+1.25 percent)

Posted by tkl88 > 2020-04-06 09:23 | Report Abuse

Dow Jones Futures spike up !
As at 9.17am,
DJI futures at => 21,555.0 (+598.0) (+2.85%)

Posted by tkl88 > 2020-04-06 10:27 | Report Abuse

Oil price wanted to turn green liao !
As at 10.20 am,
Brent => $32.91 ‪(-1.20) (-3.52%)‬

From this morning dropped -9 %
to now just dropped - 3% only !

Posted by tkl88 > 2020-04-06 14:15 | Report Abuse

Wow, Oil price going to turn green liao !
As at 2.07pm,
Nymex => $28.08 ‪(-0.26) (-0.92 percent)
Brent => $34.00 ‪(-0.11) (-0.32 percent)

Posted by tkl88 > 2020-04-06 22:40 |

Post removed.Why?

Posted by tkl88 > 2020-04-07 04:39 | Report Abuse

Wow, Fabulous,
Dow Jones closed at=> 22,679.99 (+1,627.46)
(+7.73 percent) !

Posted by tkl88 > 2020-04-07 05:17 | Report Abuse

CNBC MARKETS
Dow soars 1,600 points as growth rate of new coronavirus cases appears to slow
PUBLISHED SUN, APR 5 2020 6:04 PM EDT
UPDATED MOMENTS AGO
Fred Imbert ,Silvia Amaro

https://www.google.com.my/amp/s/www.cnbc.com/amp/2020/04/05/stock-market-futures-open-to-close-news.html

Stocks jumped on Monday, rebounding from sharp losses in the previous week, as the number of new coronavirus cases in the U.S. appeared to slow down. 
The Dow Jones Industrial Average closed 1,627.46 points higher, or more than 7%, at 22,679.99. The S&P 500 gained 7% to close at 2,663.68 while the Nasdaq Composite surged 7.3% to 7,913.24. The major averages rallied to their session highs in the final minutes of the session, with the Dow briefly trading more than 1,700 points higher. 

Boeing gained more than 19% to lead the Dow higher. Raytheon Technologies, American Express and Visa rose more than 11% each. The S&P 500 was led higher by the utilities, consumer discretionary and tech sectors, all of which closed more than 7% higher. Retail stocks such as Nordstrom, Kohl's and Macy's also rose sharply.

Posted by tkl88 > 2020-04-07 05:17 | Report Abuse

Investors were encouraged by data that shows a slowing in the number of daily U.S. coronavirus cases, although it is still early to determine a lasting trend. There were about 30,000 new cases on Thursday, 32,100 cases on Friday, 33,260 cases on Saturday, and then a slowing to just 28,200 new cases Sunday, according to the latest data from Johns Hopkins.

The Trump administration also noted on Sunday there are signs of stabilization in hospital rates, helping to lift Wall Street sentiment on Monday. Meanwhile, New York State reported 594 new coronavirus deaths on Sunday, fewer than 630 on Saturday, marking the first daily decline in coronavirus-related deaths.
"Incoming data suggests NY state might peak sooner than Cuomo's optimistic case," Tom Lee, head of research at Fundstrat, said in a note to clients. "With better visibility on the healthcare crisis in the US, particularly, on a potential to model a national peak, we believe buyers are now taking control."
Slowing death rates in Europe also offered up some hope that the U.S would be nearing its peak soon as well and that social distancing measures are working.

Posted by tkl88 > 2020-04-07 07:31 | Report Abuse

Oil price was so bullish !
As at 7.27am,
Nymex => 26.81 ‪(+0.73) (+2.80%) !‬

Posted by tkl88 > 2020-04-07 11:01 | Report Abuse

Wow, Oil price spike up crazily !
As at 10.48am,
Nymex => $27.04 ‪(+0.96) (+3.68%)‬
Brent => $34.02 ‪(+0.97) (+2.93%)‬

Posted by tkl88 > 2020-04-07 15:33 | Report Abuse

Dow Jones continue it's bull run
As at 3.25 pm,
Dow Jones Futures at => 22,906.0 (+418.0) (+1.86%)

Posted by tkl88 > 2020-04-08 07:21 | Report Abuse

Wow, Oil price continue to spike up !
As at 7.13am,
Nymex => 24.63 ‪(+1.00) (+4.23 percent)

Posted by tkl88 > 2020-04-08 09:09 | Report Abuse

Wow, Oil price getting hot & hottest now !
As at 8.35am,
Nymex => $24.79 ‪(+1.16) (+4.91%)‬

Posted by tkl88 > 2020-04-08 13:38 | Report Abuse

Walaoeh, Oil price now spike up crazily !
As at 1.30pm,
Nymex => $25.19 ‪(+1.56) (+6.60 percent)
Brent => $32.88 ‪(+1.01) (+3.17 percent)

Posted by tkl88 > 2020-04-08 22:14 | Report Abuse

Oil prices gain as OPEC meeting looms
OPEC+ expected to lower collective oil output substantially to trim some oversupply in global market
Ovunc Kutlu   | 08.04.2020
https://www.aa.com.tr/en/economy/oil-prices-gain-as-opec-meeting-looms/1797054

Posted by tkl88 > 2020-04-08 22:15 | Report Abuse

ANKARA
Crude oil prices were up on Wednesday as the upcoming meeting between OPEC and its allies, known as OPEC+, give hope to investors of potential support to prices.
International benchmark Brent crude was trading at $32.32 per barrel at 0620 GMT for a 1.4% increase after it closed Tuesday at $31.87 a barrel.
American benchmark West Texas Intermediate (WTI) was at $24.72 a barrel at the same time for a 4.6% gain after ending the previous day at $23.63 per barrel.
The oil producing member countries of OPEC+ will hold a teleconference on Thursday to discuss the low price environment and the supply-demand balance in the global oil market.
Due to the rapid spread of coronavirus, or the COVID-19 disease, weak economic activity around the world has lowered global oil demand, increasing the glut of supply in the market.
Saudi Arabia-led OPEC and Russia-spearheaded non-OPEC failed on March 6 to lower their collective output, causing a massive plummet in prices, which fell on March 30 to their lowest level since 2002.
The OPEC+ group is estimated on Thursday to lower their collective oil production level by between 10-15 million barrels per day in order to trim some of the oversupply.

Posted by tkl88 > 2020-04-09 03:31 | Report Abuse

OMG, Oil price was damn super hot man !
As at 3.25am,
Nymex => $25.75 ‪(+2.12) (+8.97 percent)
Brent => $33.33 ‪(+1.46) (+4.58 percent)

Posted by tkl88 > 2020-04-09 04:20 | Report Abuse

‪Wow, Fabulous!
As at 4.12am,‬
Dow Jones closed at=> 23,433.57 (+779.71)
(+3.44 percent) !

Posted by tkl88 > 2020-04-09 04:42 | Report Abuse

Oh My goodness,
Oil price was unbelievable spike up to the sky high !
As at 4.35am,
Nymex => $26.‪09 (+2.46) (+10.41 percent)
Brent => $33.‪54 (+1.67) (+5.24 percent)

Posted by tkl88 > 2020-04-09 05:11 | Report Abuse

Oil Spikes After Algeria Says OPEC+ Cuts Could Reach 10 Million Bpd
By Julianne Geiger - Apr 08, 2020, 2:20 PM CDT

https://www.google.com/amp/s/oilprice.com/Energy/Oil-Prices/Oil-Spikes-After-Algeria-Says-OPEC-Cuts-Could-Reach-10-Million-Bpd.amp.html

Posted by tkl88 > 2020-04-09 05:11 | Report Abuse

The price of a West Texas Intermediate barrel of oil shot up on Wednesday afternoon by nearly 7% shortly after OPEC’s President gave the market fresh optimism about tomorrow’s virtual OPEC++ meeting.
“The meeting will undoubtably be fruitful in order to rebalance the market through measures we will take tomorrow,” Mohamed Arkab, OPEC’s President and Algeria’s Energy Minister told state news agency APS, according to Reuters.

While an intangible statement, the optimistic words spoken by the OPEC President seem to be just what the doctor ordered for the volatile markets as speculators try to make the most out of the oil-price plunge.
As a result of today’s spike, trading of the biggest oil ETF, the United States Oil Fund (USO), had been halted temporarily. Trading of the USO has since resumed. The USO is trading up 4.03% as of 3:03pm EDT.
All eyes remain on the potential deal that OPEC group may come up with tomorrow in what could be the largest oil production cut deal ever. Signatories to the deal could include, in addition to OPEC, Brazil, Norway, Canada, and all the OPEC+ countries that signed onto the previous deal. While some are hoping that the United States may join in the cuts, a formal agreement between the US and other oil producers appears unlikely.
Saudi Arabia and Russia, together responsible for producing more than 22 million barrels per day, are expected to make or break the chances of a production cut deal.

A 10 million bpd figure has been discussed by meeting attendees in the run-up to the meeting, although that figure would be insufficient to offset the loss in oil demand that the market has seen due to the coronavirus.

By Julianne Geiger for Oilprice.com

Posted by chimchim > 2020-04-09 12:58 | Report Abuse

Scomi Energy: Files for court order to block immediate wind-up. Scomi Energy Services (SESB) and its subsidiaries, which have been served with winding up petitions, today applied for a judicial management (JM) order at the High Court. The application for the JM order immediately puts into effect a moratorium from the start of the application until the granting or dismissal of the application. During the period, no resolution can be passed or order made for the winding-up of SESB and its subsidiaries. (The Edge)

Meow...

Posted by tkl88 > 2020-04-09 16:42 | Report Abuse

Walaoeh, Oil price spike up like mad already !
It's definately indicating that the Opec + meeting will come out a deal of ouput cut !
As at 4.37pm,
Nymex => $26.14 (+1.05) (+4.18 percent)
Brent => $33.90 (+1.07) (+3.26 percent)

Posted by tkl88 > 2020-04-09 18:02 | Report Abuse

OMG, Oil price continue to spike up sky high !
As at 5.55pm,
Nymex => $26.60 (+1.51) (+6.02 percent)
Brent => $34.20 (+1.36) (+4.14 percent)

Posted by Mabel > 2020-04-09 23:13 | Report Abuse

It's already on the news...

Both Russia and Saudi agree to cut 20 million barrel per day.

Oil Spike 12 %...

Tomorrow I expect all O&G counters will explode...

Meow....

Posted by RedEagle > 2020-04-09 23:18 | Report Abuse

20million cut..Great deal..

Posted by tkl88 > 2020-04-10 00:28 | Report Abuse

Wow, Congratulations to you all guys who is still keep tight tight & Sailang Armada at current low price !
Good news from the OPEC+ meeting which the output cut was Deal and the oil price then was spike up sharply!
As at ‬12.13am,
Nymex => $26.02 ‪(+0.93) (+3.71 percent)
Brent => $33.86 ‪(+1.02) (+3.11 percent)

Posted by tkl88 > 2020-04-10 01:10 | Report Abuse

Russia and Saudi Arabia agree deal on oil output cuts: Report
OPEC members are on Thursday set to discuss 'deep cuts' of up to 20 million barrels per day
By MEE and agencies
Published date: 9 April 2020 14:40 UTC
Last update: 18 min 21 sec ago

https://www.middleeasteye.net/news/russia-and-saudi-arabia-agree-deal-oil-output-cuts

Russia and Saudi Arabia have overcome all hurdles to cut oil production at a meeting of OPEC, ending a month-long price war.
Oil prices jumped after Reuters reported that the two countries have agreed to a "deep cut" in crude production.
OPEC and other oil producers were set to debate on Thursday oil cuts as big as 20 million barrels per day (bpd), equivalent to about 20 percent of global supplies, one OPEC source and a Russian source told Reuters.
"That is a global deal," the OPEC source said.
He did not specify if the United States would be involved - something Russia and OPEC producers have insisted on.
A worldwide lockdown to slow the spread of the coronavirus pandemic has cut fuel demand by roughly 30 percent and contributed to a crash in prices that took major benchmarks down by more than two-thirds.
Prices surge
Prices surged over 10 percent earlier on Thursday as producers appeared set to cut production sharply, but the exact details of the cuts remain unclear.
The OPEC and allies including Russia - a group known as OPEC+ - were in talks on Thursday to cut production sharply, with numbers as high as 20 million bpd bandied about, OPEC and Russian sources said.
That would be equivalent to about 20 percent of global supplies, to support prices hammered by the coronavirus crisis. However, it is unclear if a figure that lofty includes cuts made for economic decisions by private producers in the United States, Canada and elsewhere, or if OPEC assumes those countries will mandate cuts, which the US has not wanted to do.
A cut of 20 million bpd would be by far the biggest output cut ever agreed by OPEC. But Russia has insisted it will only reduce output if the United States joins the deal. US laws prevent coordination among private companies.
Analysts, meanwhile, said that even if such record cuts are agreed, they will not be enough.
"Ultimately, the size of the demand shock is simply too large for a coordinated supply cut," analysts at Goldman Sachs said on Thursday.
Following the OPEC+ meeting, energy ministers from the Group of 20 major economies are set to meet on Friday.
The last OPEC meeting in early March ended acrimoniously, with Russia and Saudi Arabia unable to come to an agreement to curb output as the virus spread, adding to the slump in prices.
A source briefed on Saudi Arabia's oil policy said it is ready to cut up to 4 million bpd of its production, but only from its record output levels of 12.3 million bpd achieved in April.
Russia has said it wants output to be cut from the January-March levels before Saudi production jumped.

Posted by tkl88 > 2020-04-10 04:17 | Report Abuse

Great, Dow Jones continue it’s bull run !
DJI closed at =>
23,719.37 (+285.80) (+1.22 percent)

Posted by tkl88 > 2020-04-10 07:25 | Report Abuse

Oil producers agree to cut production by a fifth
* 09 April 2020 Business

https://www.google.com.my/amp/s/www.bbc.com/news/amp/business-52226236

Posted by tkl88 > 2020-04-10 07:25 | Report Abuse

Opec producers and allies have agreed to cut output by more than a fifth to counter the slump in demand caused by coronavirus lockdowns.
The group said it would cut output in May and June by 10 million barrels to help prop up prices. The cuts will then be eased gradually until April 2022.

Opec+, made up of Opec producers and allies including Russia, held talks on Thursday via video conference.
Talks were complicated by disagreements between Russia and Saudi Arabia.

The group and its allies agreed to cut 10 million barrels a day or 10% of global supplies. Another 5 million barrels is expected to be cut by other nations.

It said the cuts would be eased to eight million barrels a day between July and December. Then they would be eased again to six million barrels between January 2021 and April 2022.
Oil prices slumped in March after Opec+ failed to agree cuts .

In the wake of the March meeting, Saudi Arabia and Russia moved to boost production in order to retain market share amid falling global demand.
That, together with the collapse in demand for oil amid the coronavirus pandemic, help to push oil prices to 18-year lows by the end of March.

Prices have recovered some ground since then. Last week, prices jumped 20% after US President Donald Trump said he expected Saudi Arabia and Russia to end their feud.

Thursday's talks will be followed by a conference call on Friday between energy ministers from the G20 countries. It will be hosted by Saudi Arabia.

Kirill Dmitriev, head of Russia's wealth fund and one of Moscow's top oil negotiators told Reuters: "We are expecting other producers outside the Opec+ club to join the measures, which might happen tomorrow during G20."

The US has not committed itself to any cuts although it did say that its oil output was gradually reducing anyway due to plunging oil prices.
President Donald Trump had warned Saudi Arabia that the US would impose sanctions if it did not cut oil production.