The publications of the current White House tenant on the bluebird social network clearly have the power to boost oil prices. Indeed, after a series of publications he made this Thursday on Twitter, the price of a barrel has experienced a rather spectacular increase. In particular, he announced a likely reduction in Russian and Saudi production.
From 5.1 dollars to 25.32 dollars
This option would have the merit of correcting the damage caused in this sector by the Coronavirus pandemic. But it was clear that following these various publications, the price of oil has changed around the world. Initially at 5.1 dollars, the American barrel of WTI for May in New York rose to 25.32 dollars or 25%.
In London, the price of a barrel of Brent North Sea crude for June delivery rose to 29.94 dollars or 21% from 5.2 dollars. This situation comes when the American president surprised the various investors with his statement. He explained in particular that he hopes and expects that Russia and Saudi Arabia will reduce their production “About 10 million barrels, and maybe much more”.
Would Trump have lied?
“It could even go up to 15 million barrels”, had continued the American president in his publication. But these statements are likely to be an invention of the Republican billionaire. He indicated in particular that this information would come from a discussion with “(His) friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin”.
But the reaction of the Russian government was quick to come out. The spokesperson for the Russian Presidency, Dmitri Peskov has been rather clear. “No, there was no such conversation”, he said. He adds that for the moment, no discussion has been scheduled between the Russian president and Mohammed ben Salmane (MBS).
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