WASHINGTON ( Reuters ) – The Trump administration places The administration of President Donald Trump sees ahead of an upcoming OPEC + meeting this week that major oil producers such as Saudi Arabia and Russia will honor their pledges to cut crude production and will not harm the global economy by changing course, a senior official said..
” We are confident that the major oil producers will not return to policies that hinder an orderly and rapid recovery from these unprecedented global economic conditions, ” a senior administration official told Reuters in response to a question about the administration’s position on global oil producers ahead of the OPEC + meeting on Thursday .”.
The Trump administration places
The US administration had a hostile stance in early April when Saudi Arabia and Russia raised oil production in a war against market shares during the height of the Corona pandemic, which put pressure on fuel demand and caused a drop in crude prices.
Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries ( OPEC ) starts cutting oil production, he will not have the authority to prevent lawmakers from passing legislation to withdraw US forces from Saudi Arabia.
Three OPEC + sources said on Monday that OPEC, which includes Saudi Arabia as its largest producer and Russia and is part of OPEC +, is close to reaching a compromise on extending production cuts and is discussing a proposal to extend supply cuts until July or August.
Although the situation appears to be calmer, Trump is still in contact. The Kremlin said Trump and his Russian counterpart, Vladimir Putin, discussed OPEC + production cuts and other issues, including limiting armament, in a phone call on Monday.
The OPEC + production cut and a record decline in production from countries outside the group, such as the United States, raised oil prices The world amounted to about $ 40 a barrel, although this is still lower than the price recorded in January and amounted to about $ 64.
A source in the oil sector, contacting an official in the office of the US Secretary of Energy Dan Brolett, said that the ministry is monitoring carefully but closely.
The Ministry of Energy has not yet responded to a request for comment.
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