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Trump hints that the United States may participate in oil production cuts
Tuesday 07, April 2020 09:58 | Economicreadings: 49
[rtl]Baghdad ( NINA ) - US President Donald Trump hinted at the possibility of the United States reducing its crude oil production, if necessary, in order to follow the steps of the "OPEC +" coalition.
The US President's statement, according to "RIA Novosti", came in response to a question about whether the United States would reduce its oil production in the event that the OPEC + states requested it, and he said during a press conference yesterday: "This decision must be taken, perhaps we will accept or perhaps not."
Trump added that OPEC + countries have not submitted such a request to him, expecting world oil production to decline automatically due to the lack of demand for crude due to the consequences of the spread of the Corona virus.
The US President has threatened to impose customs duties on oil imported into the United States, if oil prices remain at low levels.
He also indicated earlier that Russia and Saudi Arabia could cut their oil production by 10-15 million barrels per day, but the United States does not intend to participate in that.
So far, no agreement has been announced between Moscow and Riyadh to cut production, and it is assumed that the OPEC + and other producing countries will hold an emergency meeting next Thursday to discuss the situation in the oil market ./ End 2[/rtl]
The US President's statement, according to "RIA Novosti", came in response to a question about whether the United States would reduce its oil production in the event that the OPEC + states requested it, and he said during a press conference yesterday: "This decision must be taken, perhaps we will accept or perhaps not."
Trump added that OPEC + countries have not submitted such a request to him, expecting world oil production to decline automatically due to the lack of demand for crude due to the consequences of the spread of the Corona virus.
The US President has threatened to impose customs duties on oil imported into the United States, if oil prices remain at low levels.
He also indicated earlier that Russia and Saudi Arabia could cut their oil production by 10-15 million barrels per day, but the United States does not intend to participate in that.
So far, no agreement has been announced between Moscow and Riyadh to cut production, and it is assumed that the OPEC + and other producing countries will hold an emergency meeting next Thursday to discuss the situation in the oil market ./ End 2[/rtl]
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