Iran’s governor to the Organization of the Petroleum Exporting Countries (OPEC) dies after suffering a brain hemorrhage and going into a coma.

Saudi crown prince threatened Russian president over production cuts prior to flooding market in a telephone call, the Middle East Eye reports.

Following a price war crisis sparked by the OPEC+ countries, it seems that the sudden price drop that brought the cost of crude oil down to the prices in $20’s has finally seen some kind of recovery.

The OPEC and other large oil producers led by Russia have agreed on a deal to cut output after a row between Saudi Arabia and the US degenerated into open threats.

The OPEC+ members have already agreed to cut their output by 10 million bpd until June.

Iran is exempt from the new cuts along with Libya and Venezuela.

Major oil producers have reached a partial agreement on the reduction of their production to prop up prices hammered by the coronavirus pandemic but Saudi Arabia says the final accord depends on Mexico’s consent to go along with the proposed cuts.

Oil prices rose Thursday as the world’s largest oil producers are expected to agree to slash output amid the coronavirus pandemic.

​​​​​​​Saudi Arabia, Russia and allied oil producers will agree to deep cuts to their crude output at talks this week only if the United States and several others join in with curbs

Saudi Arabia reportedly plans to increase oil output next month to more than 10 million barrels per day after its OPEC+ alliance with Russia collapsed.