• HELP: President Andrés Manuel López Obrador stroke a deal with President Donald Trump for the US to somehow pick up a large share of Mexico’s assigned oil cuts under a major international agreement among oil producing nations to cut 10 million barrels a day from global supply.
• DEAL: ”The United States will help Mexico along & they’ll reimburse us sometime at a later date when they are prepared to do so”, Trump said Friday. It is still unclear the mechanism through which the US government could help Mexico in making oil cuts on its behalf given legal limitations.
• PRIORITY: During a long negotiation Thursday, energy ministers from Organization of the Petroleum Exporting Countries (OPEC) and other oil producing nations tried to establish a 23% oil production cut for all countries to comply. Mexico was one of them.
• EFFORTS: “We held our position until the end, because it has taken a lot of effort to increase production”, said López Obrador over not meeting the 23% target. Under the deal, Mexico would cut 100 million barrels a day and the US would cut 250 million barrels a day on its behalf
