Trump and Putin agree to talks on state of oil market

During a telephone conversation on Monday of this week (March 30), Russian President Vladimir Putin and US President Donald Trump agreed that their top energy officials should meet to discuss the current state of the global oil market, according to the Kremlin.

The Kremlin said: “opinions on the current state of global oil markets were exchanged. It was agreed there would be Russo-American consultations about this through the ministers of energy.”

It did not disclose what would be discussed but Moscow has previously indicated that it would like to see more countries joining efforts to balance global oil markets. 

Goldman Sachs analysts have said that oil demand from commuters and airlines, (which account for about 16 million barrels per day of global consumption), may never return to former levels. 

Elsewhere, the Trump administration is trying to persuade Saudi Arabia to decrease crude output. It is said to be planning to send a special energy envoy, (Victoria Coates), to the kingdom imminently. 

For more information visit en.kremlin.ru

3rd April 2020