Saudi Arabia and Russia ended a devastating oil price war on Thursday, agreeing to slash output together with other members of the OPEC+ alliance in an effort to lift the market from a pandemic-driven collapse.

President Donald Trump said a tentative agreement between Saudi Arabia and Russia to cut global oil production is a very acceptable agreement.

Mexico said it has reached an agreement with OPEC+ for deep oil-production cuts, after an intervention from U.S. President Donald Trump resolved an overnight impasse.

A South Korean foreign ministry official, on Friday, informed of his country's resumption of humanitarian exports to Iran.

Iranian President Hassan Rouhani underlined the necessity of sharing experiences with other countries in the field of pharmaceuticals to boost efforts in battling the coronavirus (COVID-19).

West Azarbaijan province producers exported some 1.2 tons of goods during the last fiscal year (ended March 19), a senior customs official said.

The coalition of oil producers at the Organization of the Petroleum Exporting Countries (OPEC) and their non-OPEC allies had agreed to curtail the group’s output by 10 mbd.

This value marked an increase of 111.1% over the previous month but a drop of 42.1% when compared with the last 12-month average of $10.2bn.

The department stated that once markets normalise, the nation would resume course to become a net energy exporter in 2020.

Customers will now be able to choose the type, origin and the source of their renewable energy.