Oil: US does not negotiate with Arabia and Russia

US, WASHINGTON (ORDO NEWS) — The White House is not negotiating with Saudi Arabia or Russia for a deal to cut oil supply, hoping the two countries will reach an agreement themselves the US Secretary of Energy said on a conference call Friday, a source who attended the conference said.

Dan Brouillette met with independent oil producers and other members of the oil industry shortly after US President Donald Trump met with leaders of major U.S. companies in the White House to discuss the downturn. price that threatens their activities.

The US Secretary of Energy said the White House was encouraging Ryad and Moscow to reach an agreement, and added that Donald Trump believed that an agreement could be reached in the coming days.

White House officials also said during the conference call that Donald Trump had asked his administration to find ways to improve liquidity in the energy sector, the source said.

Reuters learned Friday from a source close to the Organization of the Petroleum Exporting Countries (OPEC) that the latter and its allies were seeking to reach an agreement on an unprecedented reduction in world oil supply equivalent to 10% of demand overall.

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