Production

Opec agrees drastic output curbs to prop up prices

Opec resorted to deep production cuts on Thursday to shore up faltering oil prices in the wake of the coronavirus outbreak but market reaction was subdued amid hesitation by Russia to seal the pact on Friday.

Cut agreement: between Opec members, but Iranian Oil Minister Bijan Namdar Zanganeh says Iran still exempt
Cut agreement: between Opec members, but Iranian Oil Minister Bijan Namdar Zanganeh says Iran still exemptPhoto: AFP/SCANPIX
  • Nassir Shirkhani
London
OpecViennaRussiaSaudi ArabiaOpec+
Published 5 March 2020, 14:13Updated 5 March 2020, 14:13