OPEC and its allies seek pact to end oil price rout but agreement far from certain
Global oil demand has dropped by as much as 30 per cent, or about 30 million barrels per day. Oil production in the province has fallen as oil prices have collapsed in recent weeks. (Todd Korol/Reuters)It's hard to believe that just last month OPEC and its allies had been discussing further oil output cuts to help stabilize prices. On Wednesday, the president of Canadian Natural Resources said he supports the idea of Canada taking part in an international agreement to reduce production to support global oil prices. Late Wednesday, oil prices climbed on the optimism of Algeria's energy minister saying that Thursday's talks would "be fruitful."
Source: CBC News April 09, 2020 00:00 UTC
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