WASHINGTON (Reuters) – U.S. President Donald Trump stated he has actually invited U.S. oil executives to the White Home to talk about ways to help the market “damaged” by plunging energy demand throughout the coronavirus break out and a cost war in between Saudi Arabia and Russia.
Trump likewise said he had talked just recently with the leaders of both Russia and Saudi Arabia and thought the 2 nations would make a deal to end their cost war within a “few days” – lowering production and bringing rates back up.
” I’m going to meet the oil manufacturers on Friday. I’m going to meet with independent oil manufacturers likewise on Friday or Saturday. Possibly Sunday. We’re going to have a lot of conferences on it,” Trump told reporters at a media conference.
” Worldwide, the oil market has been wrecked,” he said. “Its very bad for Russia, its very bad for Saudi Arabia. I mean, its really bad for both. I believe they’re going to negotiate.”
International oil costs have fallen by approximately two-thirds this year as the coronavirus has slammed worldwide economies at the very same time significant manufacturers Saudi Arabia and Russia have actually started to flood the market with oil.
Talking To Reuters on Thursday, a senior Gulf source acquainted with Saudi thinking stated the Kingdom supports cooperation betwe