The Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC allies, known as OPEC+ have agreed to extend the 10-million-barrel-per-day (mbd) first phase of the oil output cut by one month, to July 2020. The group disclosed this in a statement released at the end of its online meeting in Vienna on Saturday. It would be recalled that OPEC and its allies under the OPEC+ had agreed to cut supply by up to 10 million barrels...









