Oil producers unanimously agreed on Sunday to cut output by 9.7 million barrels per day from May.
OPEC, Russia and other oil producing nations agreed to cut output by a record amount, representing around 10 percent of global supply, to support oil prices amid the coronavirus pandemic, sources told Reuters.
The group, known as OPEC+, agreed to reduce output by 9.7 million bpd for May-June, after four days of marathon talks.
Two OPEC+ sources told Reuters the deal had been sealed in a video conference.
