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U.S. not negotiating with Saudi Arabia, Russia; wants them to reach oil deal -source

Published 03/04/2020, 23:05
Updated 03/04/2020, 23:06
© Reuters.

April 3 (Reuters) - The White House is not negotiating with
Saudi Arabia or Russia over a deal to cut oil production, and
wants the two parties to come to a deal among themselves, U.S.
Energy Secretary Dan Brouillette told industry executives on
Friday, according to a source who listened to the call.
U.S. President Donald Trump met with executives from major
oil companies on Friday, and Brouillette spoke with the broader
industry after that. He said the White House is encouraging
Russia and Saudi Arabia to come to a deal, saying Trump was
optimistic a deal could be reached in a few days.
Oil demand has slumped dramatically in recent weeks as the
coronavirus pandemic has worsened. Oil prices have dropped
sharply as the industry faces a 30% decline in global fuel
demand.

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