Oman plans about 30% cut in July crude allocations

      Published on Saturday, 2 May , 2020      1134 Views     
Oman plans about 30% cut in July crude allocations

  • Business

Oman has notified all its crude oil term customers of a cut of about 30% in their allocations for July loading and delivery, Oman’s oil and gas ministry said on Thursday.

OPEC and its allies led by Russia, a group known as OPEC+, agreed earlier this month to a new supply pact from May 1 to shore up the market, following a slide in demand caused by lockdowns to contain the new coronavirus.

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

Category Business | 2020/05/02 latest update at 9:40 AM
Source : Reuters | Photocredit : Google
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