Gabon to Cut Crude Oil Production in 2020

The government of Gabon said Tuesday that it plans to slash the country’s crude oil output in 2020 by 23%.

The production cut means the oil-dependent nation will produce 154,000 barrels of crude oil a day in 2020, down from 200,000 a day a year prior, according to Vincent de Paul Massassa, Gabon’s Minister of Mines and Hydrocarbons.

Mr. Massassa said the decision was made as the Organisation of the Petroleum Exporting Countries, or OPEC, presses member states to cut crude production as global oil prices have faltered amid the coronavirus pandemic.