<article><p><i>Updates with reaction from US president Donald Trump in the eighth paragraph</i></p><p class="lead">Opec+ countries have modified their planned crude output cut to 9.7mn b/d in May-June, after reaching an agreement with Mexico at an emergency meeting today. But some key members of the group have said they are willing to make additional reductions on top of that. </p><p>Last week the Opec+ alliance struck a conditional deal to take 10mn b/d off the market in May and June, moderating to 8mn b/d in the second half of the year and 6mn b/d in 2021 and early 2022. </p><p>But the deal was not finalised as Mexico <a href="https://direct.argusmedia.com/newsandanalysis/article/2095418">rejected</a> its 400,000 b/d share of the cut over the initial May-June period, as well as the October 2018 baseline allocated to most Opec+ members. </p><p>At another emergency video conference today, the group agreed that Mexico will reduce output by just 100,000 b/d over the two-month period from an October 2018 baseline. The US will make up for the remaining 300,000 b/d on Mexico's behalf, Opec delegates said. Mexican president Andres Manuel Lopez Obrador said last week that the US had agreed to help his country with its Opec+ commitment.</p><p>Meanwhile, Iranian oil minister Bijan Namdar Zanganeh said that Opec+ members Saudi Arabia, the UAE and Kuwait agreed during today's meeting that they will make a collective reduction of 2mn b/d in addition to their allocated cuts in May-June. </p><p>He also said that producing countries outside the Opec+ group discussed reducing output by a total of 3.7mn b/d over the next year during last week's G20 energy ministers' meeting. That figure includes the US' 300,000 b/d cut on Mexico's behalf. The G20 energy ministers ended their meeting on 10 April without delivering a <a href="https://direct.argusmedia.com/newsandanalysis/article/2095586">concrete pledge on output reduction</a>. But they did assure Opec+ of anticipated declines. </p><p>The breakdown of G20 contributions has not yet been decided, according to one Opec+ delegate. And the Joint Ministerial Monitoring Committee (JMMC), which oversaw Opec+ compliance with the previous output restraint deals, will not monitor G20 reductions, the delegate added.</p><p>US president Donald Trump said he spoke today with Russian president Vladimir Putin and Saudi Arabia's King Salman bin Abdulaziz. Calling the agreement "a great deal for all," Trump said on Twitter it "will save hundreds of thousands of energy jobs" in the US.</p><p class="bylines"><i>By Rowena Edwards, Nader Itayim and Ruxandra Iordache</i></p></article>
