Sources tell Reuters that Russia and Saudi Arabia have removed their main obstacles to a new deal Oil prices surged on Thursday as producers appeared set to cut production sharply LONDON: OPEC and allied oil producers, a group known as OPEC+, agreed on Thursday to cut output by 10 million barrels per day (bpd) in May and June to help prop up prices battered the coranavirus crisis, the group said in a statement. It said the cuts would be eased between July and December to 8 million bpd and the reductions would then be relaxed further to 6 million barrels between January 2021 to April 2022. OPEC+ said it would hold another video conference meeting on June 10, to assess the market. *More to follow