DUBAI (Rahnuma): Energy ministers from the G20 nations last night agreed to measures to rebalance global oil markets ravaged by the coronavirus pandemic.
Following a marathon session of virtual talks, their communique made no direct mention of oil cuts.
Earlier, their discussions focused on a plan developed by the OPEC+ alliance, and led by Saudi Arabia and Russia, to cut oil output by an unprecedented 10 million barrels a day.
Non-OPEC+ countries such as Canada, the US and Brazil were expected to implement additional, substantial output reductions of their own.
The agreement — which includes the three biggest producers: Saudi Arabia, the US and Russia — represented the biggest-ever attempt to coordinate global oil production.