“It’s really killing an industry, hurting Russia badly, hurting Saudi Arabia badly,” Trump said Thursday. Trump’s comments came the day before he’s scheduled to meet with U.S. oil industry leaders to discuss the price crash and what can be done to help the industry. CLICK HERE TO...
Oil prices crashed to an 18-year low last month after an oil-price war broke out between Saudi Arabia and Russia when the latter refused to join OPEC in deepening production cuts. Saudi Arabia responded by boosting its output to avoid losing market share, resulting in a gush of supply hitti...
Saudi Arabia was not satisfied with the policies of Trump's predecessor, Barack Obama, toward Iran, and ties between the two countries soured after the U.S. Congress passed a law last year permitting lawsuits holding the kingdom responsible for the 9/11 attacks. "Trump announced that he will...
As Mr. Trump flew to Saudi Arabia, more reports stemming from the Russia investigation surfaced. The New York Timesreported that Mr. Trump called Comey "a real nut job"while discussing the ongoing investigation with two Russian officials visiting the White House earlier this month. He also told...
Along with a sharp reduction in demand from the coronavirus pandemic, disagreements on production cuts between Saudi Arabia and Russia that began in early March has caused the price of crude oil tofall dramatically. "It's obviously very bad for them," Trump said of low oil prices. ...
to reduce its commitments across the region, Putin has increasingly cast Russia as a worthy alternative. On Tuesday, as U.S. troops were leaving their bases near the Syrian town of Manbij, Putin was on a state visit to the United Arab Emirates after a trip to Saudi Arabi...
These decisions are not expected to have any immediate impact on production. The U.S. has been the world'slargest producer of oil for six years, outpacing Saudi Arabia and Russia. The CEOs ofExxonandChevronhave made clear that production decisions are based on market conditions, not in respon...
Trump was referring to his May 10 meeting at the White House with Russia's Ambassador to the U.S. Sergey Kislyak and Foreign Minister Sergey Lavrov. The president reportedly shared intelligence information from Israel about ISIS to the Russians. He has defended his disclosure, arguing he has th...
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Brent crude, the international oil benchmark, rose 0.8 per cent to $85.60 a barrel after jumping 6.4 per cent on Monday following Saudi Arabia’s move to implement a “voluntary cut” of 500,000 barrels per day, or just under 5 per cent of its output and as Russia also said it would...