Affected by the epidemic, oil prices have fluctuated sharply recently, which has triggered demands from major oil-producing countries to reschedule their production reduction plans. Algerian Energy Minister Attar said on the 11th that OPEC+, composed of oil-producing countries such as OPEC and Russia, may postpone the current plan to cut production by 7.7 million barrels per day until 2021, or further increase production cuts if necessary
OPEC said in its monthly report released on the same day that it will further lower its 2020 global oil demand forecast by 300,000 barrels per day to 9.8 million barrels per day, which is 10% lower than last year's level.
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