Oman Plans About 30 Per Cent Cut in July Crude Allocations

Oman has notified all its crude oil term customers of a cut of about 30 per cent in their allocations for July loading and delivery, Oman's oil and gas ministry said on Thursday.
 
OPEC and its allies led by Russia, a group known as OPEC+, agreed earlier this month to a new supply pact from May 1 to shore up the market, following a slide in demand caused by lockdowns to contain the new coronavirus.
 
Gulf oil producer Oman is a member of the OPEC+ alliance.