US will solve oil problems with Russia and Saudi Arabia

By | April 1, 2020
US will solve oil problems with Russia and Saudi Arabia

Trump said that the countries will jointly decide what to do in the current situation with falling oil prices.
The United States, Saudi Arabia, and Russia will work together on the problem of the collapse of oil prices. This was stated by the President of the United States Donald Trump at a press briefing at the White House on Wednesday, April 1.

“I spoke with President Putin about this, I also spoke with Crown Prince of Saudi Arabia about it. (…) We will do this together and see what we can do,” said trump.

“Both countries (Russia and Saudi Arabia – ed.) discuss this and I will join them at a convenient time if necessary”, – said the President of the United States.

Trump says he spent “a wonderful conversation” with Putin, and although the talks have touched on such topics as trade and the threat of coronavirus, a large part of the conversation was devoted to oil prices. According to trump, low oil prices are beneficial to consumers, but at the same time, the damage one of the largest sectors of American industry – the oil that threatens the loss of thousands of jobs.

The situation with falling oil prices is unprecedented and is reminiscent of the situation in the 1950s years, says trump.

“In some parts of the world water has become more valuable than oil,” – said the President of the United States.

We will remind you that earlier the price of Russian oil fell to $13 per barrel. The demand for many petroleum products in the world has decreased dramatically due to pandemic coronavirus. The expiration of the transaction OPEC+ exacerbated the situation, say, market experts.

It was also reported that the deal OPEC+ terminated. The agreement in 2016, entered into a state producing oil. It allowed us to maintain prices at a level, not below 50 dollars per barrel.

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