To press his case, Cramer has assembled a group of 10 Republican senators from oil-rich states - all of whom are Iran hawks and have voted on multiple occasions to continue U.S. support and arms sales for the Saudi-led coalition in Yemen. It is a culture that ensures a sustainable delivery of energy to the world. The move followed Moscow's refusal to agree to production cuts.
Trump's decision to wade into oil diplomacy is driven by the catastrophic impact of the price crash on the American shale industry, largely based in Texas and other Republican-leaning states.
The restrictions, part of the OPEC deal, were to limit the output by the oil producing countries.
"Saudi policy will not just drive more expensive forms of oil production out of the market; it will also make it harder for renewable energy to compete with fossil fuels", said Bernard Haykel, a Saudi expert at Princeton University.
A price war between major producers Saudi Arabia and Russian Federation has led to a supply glut at a time when world economies are being hammered by business shutdowns and a halt in air travel due to the disease, which has killed more than 42,000 worldwide.Читайте также: Senators announce 4 additional cases of COVID-19 inside organization
Brouillette and Novak "had a productive discussion on the current volatility in global oil markets" that was in continuation of the 30 March phone conversation between the USA and Russian presidents, Energy Department spokeswoman Shaylyn Hynes said. Putin has no immediate plans to speak with the Saudi king or crown prince, but such contacts can be easily arranged, he said. On Wednesday, oil slid towards $25 a barrel, after touching its lowest level in 18 years. That's a fraction of the additional 2 million barrels a day that Saudi Arabia has pledged to pump.
"Natural gas and oil will be critical to our nation's economic recovery", an official with the industry lobbying group said in a statement.
The market has slumped on pledges of higher output from Saudi Arabia and Russian Federation after a supply pact collapsed and the sharp fall in demand because of the coronavirus pandemic.
"They are going to get together and we're all going to get together and we're going to see what we can do because we don't want to lose an industry", Trump told reporters at the White House. "The two countries are discussing it. And I am joining at the appropriate time, if need be", Trump said.
"Secretary Brouillette and Minister Novak discussed energy market developments and agreed to continue dialogue among major energy producers and consumers, including through the G20, to address this unprecedented period of disruption in the world economy".При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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