Oil prices rise 30% after Donald Trump speech
This Thursday the US President announced the possibility that Russia and Saudi Arabia reduce their oil production, which influenced the price of Brent and Texas barrel
After the US president, Donald Trump, expressed his confidence in the reduction of oil production, at least about 10 million barrels a day were reduced, the price of crude oil raised.
Immediately after making these statements, the barrel of oil in its Brent and Texas variety grew by 30%.
“I just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke to President Putin of Russia and I expect cuts of approximately 10 million barrels and maybe substantially more, and if it happens, it will be great for the oil industry and gas!”, detailed the US president.
On the other hand, a Saudi agency assured that Saudi Arabia plans to convene an urgent meeting of the Organization of Petroleum Exporting Countries (OPEC+) “with the aim of reaching a fair agreement, and to restore the desired balance”.
This request to hold an emergency summit is part of Saudi Arabia’s effort to support the global economy in a context of exceptional circumstances and “in appreciation” of the efforts of the US president.
K. Tovar
Source: El Sumario
