US President Urges Two Countries Not to "Stimulate the Oil Market" While Coronavirus Reduces Demand

Trump plans an oil deal between

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Saudi Arabia and Russia “within days”

US President Urges Two Countries Not to “Stimulate the Oil Market” While Coronavirus Reduces Demand

US President Urges Two Countries Not to "Stimulate the Oil Market" While Coronavirus Reduces Demand
WASHINGTON, USA – MARCH 20: (—-EDITORIAL USE ONLY MANDATORY CREDIT – “BANDAR ALGALOUD / SAUDI KINGDOM COUNCIL / HANDOUT” – NO MARKETING NO ADVERTISING CAMPAIGNS – DISTRIBUTED AS A SERVICE TO CLIENTS—-) U.S. President Donald Trump (R) meets with Crown Prince Mohammed bin Salman Al Saud (L) of Saudi Arabia in the Oval Office at the White House on March 20, 2018 in Washington, United States. (Photo by Bandar Algaloud / Saudi Kingdom Council / Handout/Anadolu Agency/Getty Images)

United States President Donald Trump said he spoke with leaders of Russia and Saudi Arabia and agreed that the two countries would make an agreement to end the “oil price war” within days. “

Trump urged the governor of US oil companies to the White House to discuss how to help the industry “deteriorate” in reducing energy demand during the coronavirus epidemic.

“It really hurts Russia, it hurts Saudi Arabia. I mean, it hurts both of us.

“I will meet oil producers on Friday. I will meet independent oil producers on Friday or Saturday. It could be Sunday.

Global oil prices have fallen by two thirds this year, with the collapse of the world economy, while major oil producers in Saudi Arabia and Russia have flooded the oil market. .

Hopefully in the upcoming meeting with oil company leaders, Trump will discuss a number of options to help the industry, including when it comes to producing oil from Saudi Arabia, the Wall Street Street Journal said, which was the first to raise awareness of the planned meeting.

This is an expensive affair

Speaking with Reuters on Thursday, Persian naval sources familiar with Saudi Arabia said the government supported cooperation between oil producers to raise prices, but protested last month asking for a father’s request. services that provide services that cause problems.

Earlier this week, he called price talks between Russia and Saudi Arabia insane and spoke with Russian President Vladimir Putin.

According to the Kremlin, senior officials from the two countries’ energy departments then agreed and will continue negotiations with major oil producers around the world.

The Trump administration says they also plan to send a special envoy to Riyadh to achieve the services it provides.

According to two sources, crude oil supplies in Saudi Arabia rose to 12 million barrels per day on Wednesday.

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