Trump believes Russia and Saudi Arabia stopped oil disputes

US, WASHINGTON (ORDO NEWS) — US President Donald Trump believes that Russia and Saudi Arabia have stopped their oil disputes. This was stated on Friday by the head of the White House National Economic Council Lawrence Cadlow.

“The US President spoke on a number of issues with Russian President Vladimir Putin and the Crown Prince of Saudi Arabia, Mohammed bin Salman Al Saud. The President believes that they reached an agreement on their obligations and stopped disputes over oil, stopped artificially saturating the market with oil that is already full,“ Cudlow quotes the White House press pool.

Trump had several telephone conversations with the President of Russia and the Crown Prince of Saudi Arabia, Cadlow added in an interview with Bloomberg.

He was asked if the United States was planning to send a representative to attend the OPEC + video conference to stabilize the oil market, scheduled for April 6. Earlier, a TASS source said that the organization would invite the US oil regulator to participate in the negotiations.

“First of all, I must say that the president [Trump] maintained telephone contacts with Muhammad bin Salman in Saudi Arabia and [Vladimir] Putin in Russia. He called up several times with them, other representatives of the administration spoke with his colleagues in both countries,” pointed out Cadlow.

According to official data on the Kremlin website, in 2020, Putin and Trump had only one telephone conversation, which took place on March 30.

The OPEC + deal, which was held at the agreement of Russia and Saudi Arabia for three years and allowed to maintain hydrocarbon prices in the region of $ 60 per barrel by limiting production, ceased to work on March 31, 2020. It was not possible to extend it due to the opposing positions of the two largest participants: Moscow proposed to extend the agreement on the previous terms, and only to the second quarter of 2020, and Riyadh – to increase the reduction by 1.5 million barrels per day until the end of the year. The termination of the agreement led to a sharp drop in oil prices, which was exacerbated by a decline in global demand due to the pandemic of the disease caused by the new coronavirus.

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