U.S. President Donald Trump expects Russia and Saudi Arabia to cut oil production, signaling a possible end to the two countries’ crude war.
Trump in his twitter account @realDonaldTrump said that he spoke to Mohammed Bin Salman, the crown prince of Saudi Arabia.
“Just spoke to my friend (the Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels.
“And, may be substantially more which, if it happens, will be GREAT for the oil & gas industry!,” Trump’s tweet said.
The pricing war between Moscow and Riyadh has drastically driven down oil prices globally, coming on top of the coronavirus slowdown reducing demand.
Edited By: Isaac Aregbesola
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