President Donald Trump said on Monday that OPEC had not pressed him to ask U.S. oil producers to reduce their output to support global prices, ...
President Donald Trump said on Monday that OPEC had not pressed him to ask U.S. oil producers to reduce their output to support global prices, which have been hard-hit by the economic fallout of the coronavirus pandemic.07 Apr 2020 07:30AMWASHINGTON: President Donald Trump said on Monday that OPEC had not pressed him to ask U.S. oil producers to reduce their output to support global prices, which have been hard-hit by the economic fallout of the coronavirus pandemic.
Several U.S. drilling companies have already scaled back production because of the drop in oil prices, which have lost around two-thirds of their value so far this year. The renewed discussions among members of OPEC+ began after Trump pressured Riyadh and Moscow to make a deal in a series of phone calls. Trump said last week he had made no concessions and did not agree to a U.S. production cut.
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