Trump Warns of an Oil War

U.S. President Trump said Saudi Arabia and Russia would agree to cut crude oil, but the fact that the United States would not cut it would undermine investment sentiment. President Trump said, “We did not yield to Saudi and Russian oil-related demands.”

Trump said recently that he talked with leaders of Russia and the oil group Saudi Arabia, hoping that Russia and the oil group would reduce their daily output by 10 million barrels, or even 15 million barrels, and expected to reach a new agreement on crude oil production and end oil prices. war.

U.S. President Donald Trump wrote on Twitter last night that he expected Saudi Arabia and Russia to cut 10 million barrels of oil a day.


The news stimulated the price of oil to rise by more than 30%, but the market appeared to be “not selling”, raising questions about Saudi Arabia and Russia agreeing to reduce production. International oil prices fell during Asian trading hours. The decline in international oil prices continued to expand, and New York oil fell below $ 24 per barrel, which is now reported at $ 23.78, down 6%. Brent futures oil reached the level of 30 US dollars a barrel last night, but now fell below 29 US dollars, at 28.5 US dollars, down 4.8%.

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U.S. President Trump said Saudi Arabia and Russia would agree to cut crude oil, but the fact that the United States would not cut it would undermine investment sentiment. President Trump said, "We did not yield to Saudi and Russian oil-related demands."

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