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Published on Monday, April 13, 2020 | Updated on Tuesday, April 14, 2020

U.S. | Oil Prices: Can the new output deal save producers?

Rather than boosting prices in the short-run, the production agreement could result in less volatility and more stable conditions for the market to recover.

Key points

  • Key points:
  • The OPEC+ alliance supported by the G20 negotiated an agreement by 23 countries to cut global petroleum output by 9.7 million barrels per day -around 10% of the total- through the end of June
  • We maintain our baseline scenario for crude oil prices

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