BREAKING NEWS

Trump holds conference call on oil deal with Putin, Saudi king

By REUTERS

APRIL 10, 2020 01:22

President Donald Trump is holding a conference call with Russian President Vladimir Putin and Saudi Arabia's King Salman discussing an "oil deal," a presidential aide said on Thursday.

The aide, Dan Scavino, announced the call in a tweet ahead of a briefing by Trump later in the evening.

OPEC and its allies led by Russia agreed on Thursday to cut their oil output by more than a fifth and said they expected the United States and other producers to join in their effort to lift prices that have been pummeled by the coronavirus outbreak.

The United States welcomed on Thursday reports that OPEC and its allies agreed in principal to reduce oil production by 10 million barrels per day (bpd), a senior Trump administration official said on Thursday.

"These commitments would send an important signal that all major oil producing states will respond in an orderly manner to market realities caused by the Coronavirus pandemic," the official said, and added that Energy Secretary Dan Brouillette was going to represent the United States at Friday's G20 energy ministers meeting to discuss actions to restore market stability.

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