03 April 2020; MEMO: Saudi Arabia yesterday called for an urgent meeting of the OPEC+ oil producers with the “aim of seeking a fair agreement that will restore the desired balance to the oil markets”, state-run Saudi Press Agency reported.
The agency said the Saudi invitation came after a phone call between US President Donald Trump and Crown Prince Mohammed Bin Salman.
“The call [for the meeting] comes in the framework of the Kingdom’s constant efforts to support the global economy in this exceptional circumstance, and an appreciation of the request of His Excellency the President of the United States of America Donald Trump and the request of friends in the United States,” it added.
Trump told CNBC news yesterday that he spoke to Bin Salman and Russian President, Vladimir Putin, about the oil market. The US president claimed later on Twitter that Putin spoke with Bin Salman and the two leaders would make significant output cuts of 10-15 million barrels.
“Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & 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.
The president’s announcement caused oil prices to increase by more than 24 per cent.
However, the Kremlin denied that Putin had spoken to the Saudi Crown Prince.
Interfax news agency reported Putin’s spokesman Dmitry Peskov saying: “No, there was no conversation” adding that “so far” there were no plans for such talks.
