President Trump: OPEC+ countries close to agreement to reduce oil production

US President Donald Trump. Photo: EPA

"I just had a very good discussion with President Vladimir Putin of Russia and King Salman of Saudi Arabia about oil production and OPEC, and working towards a solution that will make the oil industry work much better than it does now," President Donald Trump said.

The conversation with foreign leaders lasted more than an hour. The US President said that the current figures were so low that they warned that it was very possible to temporarily stop oil production around the world, even in the US. However, Mr. Donald Trump emphasized that the US did not care about low oil prices, because this caused a global economic recession.

The oil price war has severely affected oil-producing countries around the world. Illustration photo: TASS

President Trump said he plans to continue negotiations on global oil production in the coming hours. In addition, the US leader said that OPEC+ will announce agreements today (April 10).

"The results, one way or another, may be good or bad. But, Russia and Saudi Arabia have become 'harmonious' in the current OPEC+ negotiations. I think, they get along very well" - President Trump said.

Previously, according to the draft, OPEC+ countries agreed to limit oil production by 10 million barrels per day, between May and June. However, this agreement was only reached with Mexico's approval.

The plan calls for Russia and Saudi Arabia to cut their oil production by 2.5 million barrels per day each, down from 11 million barrels per day. This would bring the two countries' oil production to 8.5 million barrels per day in May and June.