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Trump said that the United States is unlikely to go to reduce oil production – Economy and business

WASHINGTON, April 9. / TASS /. The United States is unlikely to agree to a reduction in oil production, coordinated with other participants in the global market. This was announced on Wednesday at a briefing for journalists in the White House by American President Donald Trump.

“I don’t think … Listen, we have already reduced, we are very market oriented. They (American manufacturers – approx. TASS) have already reduced [объемы добычи] automatically, “the head of the Washington administration said. He was asked a direct question in connection with the upcoming consultations in the OPEC + format, whether the United States is ready to take part in a reduction in oil production coordinated with others.

According to the American leader, Russia and Saudi Arabia flooded the market with fuel. “In the case of Russia, Saudi Arabia – they increased production when it was not necessary. And then the virus (the new coronavirus) attacked, bringing down 40% of the market. Now it is flooded with oil,” Trump said.

From his point of view, Moscow and Riyadh themselves are not interested in the current situation and will seek a way out of it. “I’ll simply say that there are two countries that are causing significant damage. Russia is being damaged, this is (oil) its main source [доходов бюджета]. And Saudi Arabia. This (oil) is definitely its main source [доходов бюджета]. Flooding the market with them is meaningless, for whatever reason they are engaged in this, “said the head of the White House.

“I think they (Moscow and Riyadh) will figure it out. Progress has been made over the past week. It will be interesting to see what the results are [консультаций] OPEC (OPEC +) tomorrow (Thursday), “added Trump.

Damage done to USA

Further, the president acknowledged that the situation in the world fuel market does not meet the interests of the American energy sector, and strikes at it.

“For many years I thought that OPEC (Organization of Petroleum Exporting Countries) is extremely unfair. I hated OPEC. Do you want another truth? I (OPEC) hated it because it was about fraud,” Trump continued. Now, he said, the United States has “an incredibly powerful energy industry,” “number one in the world.” “And I don’t want these jobs to disappear [вследствие нынешнего падения цен на топливо]”, Trump confirmed.

Many good options

He was asked how Washington intends to act if, at the OPEC + consultations, agreements are not reached on normalizing the situation in the oil market. “We’ll see. I have many options. Many good options. Handsome! Perhaps I will like them even more,” the president replied.

When asked to indicate whether the introduction of duties on US imported oil was meant, he did not give a direct answer. “Follow the development of events. Let’s hope that they (OPEC + participants) will be able to conclude a deal,” said the head of the American administration.

On April 9, a ministerial meeting of OPEC member countries and non-member states is scheduled in a video conference format. At it decisions can be made to reduce oil production to stabilize market prices.

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