US, WASHINGTON (ORDO NEWS) — The United States will intervene in the oil market at the “right time”, but for now are trying to find a “middle ground” between the benefits of low prices and protecting its oil industry, said President Donald Trump.
“On the one hand, it helps our consumers (oil products) very much, it (low prices – ed.) As a huge tax cut … But, on the other hand, it damages the wonderful (oil – eds.) Powerful industry,” Trump said. at a press conference.
“We have serious levers of influence on the situation. We are trying to find something in between. This is very ruinous for Russia, because they have the whole economy based on this (hydrocarbons – ed.). Now they have the lowest oil prices for decades, so this is very ruinous for Russia. This is very bad for Saudi Arabia . But they are fighting over the price and (volume) of production. At the right time, I will intervene,” the president added.
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