US President Donald Trump assessed the likelihood of a reduction in oil production during a White House briefing, reports Interfax.
Trump did not rule out that the United States will decide to reduce oil production if necessary. “Maybe we will accept it, maybe not,” he said.
At the same time, he replied that so far they had not turned to him for an appropriate decision. Trump believes that this can happen automatically, since there is no demand on the oil market.
Earlier trump pointed out on the absence of the US commitment to reduce oil production and added that he would not make any concessions on this issue. At the same time, the American leader noted that he was ready to mediate in the deal between Russia and Saudi Arabia to reduce oil production by 15 million barrels per day.
Russia and Saudi Arabia at the beginning of March 2020 were unable to agree to extend the agreement to reduce oil production under OPEC + and withdraw from the deal. As a result, the price of oil has fallen to lows since the turn of the century. By the end of the month, Brent benchmark crude fell below $ 23 a barrel, to its lowest level since 2002. Lows over the past 18 years have also been updated by the American WTI, which fell below $ 20. Russian Urals oil has completely collapsed to the level of 1999.
