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Brent fell by 4.1 percent and is struggling to keep its head above the psychological $30 level, while WTI edged closer to the $20 line plunging 9.3 per cent, as markets expressed their misgivings over the tentative OPEC+ deal to cut supply by 10 million barrels per day (b/d) over the next two months. Such cuts are also conditioned on Mexico following suit, but it has refused outright to comply with the proposed reduction to its production levels.Even if Mexico were to perform an about-turn and agree to lower its production by the prescribed 400,000 b/d, the 10+ million b/d reduction in... Read More
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