Lebanon’s creditors divided over draft financial restructuring plan

Lebanon’s creditors divided over draft financial restructuring plan

Lebanon's bonds have tumbled to around 15-19 cents on the dollar in recent weeks, with global market turmoil further dimming recovery value prospects for its creditors.. G20 energy ministers favor measures to rebalance global oil markets /node/1656856/business-economy. OPEC+ alliance led by Saudi Arabia and Russia eye 10 million barrels a day cut in output. Canada, US and Brazil expected to implement additional, substantial output reductions. DUBAI: Energy ministers from the G20 nations last night agreed to measures to rebalance global oil markets ravaged by the coronavirus pandemic.. Their discussions focused on a plan developed by the OPEC+ alliance, and led by Saudi Arabia and Russia, to cut oil output by an unprecedented 10 million barrels a day.. The agreement - which includes the three biggest producers: Saudi Arabia, the US and Russia - represented the biggest-ever attempt to coordinate global oil production.. "Global financial markets are in turmoil, as are global energy markets, with negative effects on both their stability and security..