The Cut Math9 Apr 2020 16:52
The Cut Math
The world is expected to cut an unprecedented 12 million to 15 million barrels of oil per day from global production. Assuming talks don't break down, here's a very simplistic possible breakdown of how the cuts play out garnered from a variety of research:
OPEC = 5 million to 6 million barrels per day
Russia = 1.5 million barrels per day
US = 1.5 barrels per day, within a few months
Brazil, Canada, Mexico = 1.2 million to 1.5 million barrels per day
Norway = 250,000 barrels per day
Others = 1 million barrels per day