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[size=36]America and Russia agree to hold talks on global oil markets[/size]
Economy | 09:09 - 31/03/2020
Follow-up - Mawazine News
The Kremlin said that US President Donald Trump and his Russian counterpart, Vladimir Putin, agreed by telephone on Monday to hold talks between the energy ministers of the two countries on the decline of global oil markets.
The agreement represents a new shift in global oil diplomacy since the failure of the Organization of Petroleum Exporting Countries (OPEC) and Russia earlier this month to agree to cut production sparked a price war between Russia and Saudi Arabia, the leader of OPEC actually.
And the effects of the Corona pandemic also contributed to the fall in crude prices to a historical level, which threatens the higher-cost oil companies in the United States and around the world with bankruptcy.
"Views were exchanged on the current state of the global oil markets," the Kremlin said in a briefing on communication. It was agreed to hold Russian-American consultations on this through the energy ministers.
White House spokesman Gad Deer said the two presidents agreed on the importance of stabilizing global energy markets.
The US Department of Energy spokeswoman, Shailin Haynes, said that Energy Secretary Dan Broelet will speak with his Russian counterpart Alexander Novak about “the ways in which the world's largest producers can deal with volatility in global oil markets”.
The Kremlin did not say exactly what the two ministers would discuss. But Moscow has previously indicated that it would like more countries to join efforts to balance world oil markets.
Shortly before the phone call, Trump said that Saudi Arabia and Russia had gone crazy in the oil price war. Ended 29 / p
The agreement represents a new shift in global oil diplomacy since the failure of the Organization of Petroleum Exporting Countries (OPEC) and Russia earlier this month to agree to cut production sparked a price war between Russia and Saudi Arabia, the leader of OPEC actually.
And the effects of the Corona pandemic also contributed to the fall in crude prices to a historical level, which threatens the higher-cost oil companies in the United States and around the world with bankruptcy.
"Views were exchanged on the current state of the global oil markets," the Kremlin said in a briefing on communication. It was agreed to hold Russian-American consultations on this through the energy ministers.
White House spokesman Gad Deer said the two presidents agreed on the importance of stabilizing global energy markets.
The US Department of Energy spokeswoman, Shailin Haynes, said that Energy Secretary Dan Broelet will speak with his Russian counterpart Alexander Novak about “the ways in which the world's largest producers can deal with volatility in global oil markets”.
The Kremlin did not say exactly what the two ministers would discuss. But Moscow has previously indicated that it would like more countries to join efforts to balance world oil markets.
Shortly before the phone call, Trump said that Saudi Arabia and Russia had gone crazy in the oil price war. Ended 29 / p
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