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Oil jumps as Trump claims he brokered Saudi-Russian deal
Washington - He now expected the two nations to cut output by 10 million barrels per day.
Trump said he spoke with Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman, and now expected the two nations to cut output by 10 million barrels per day (bpd) - an unprecedented number representing 10 per cent of global supply.
Trump said cuts could amount to as much as 15 million bpd but didn't say whether the United States, the world's largest oil producer, would contribute to reductions, a move which is forbidden by US antitrust legislation.
"Just spoke to my friend MBS (the crown prince) of Saudi Arabia, who spoke with President Putin of Russia and I expect and hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be great for the oil & gas industry!" Trump wrote on Twitter. - Reuters
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