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Coronavirus outbreak: OPEC, oil nations agree to record-setting oil production cut

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globalnews.ca

OPEC and allies led by Russia agreed on Sunday to cut oil output by 9.7 million barrels per day – representing around 10% of global supply – to support oil prices amid the coronavirus pandemic.

Global oil demand is estimated to have fallen by a third as more than 3 billion people are locked down in their homes due to the coronavirus outbreak..

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