US President Donald Trump noted the contribution of Russia and Saudi Arabia to reducing oil production and improving the state of American energy.
In an interview with Fox News on Tuesday, the head of state recalled that the state of the US oil industry had deteriorated significantly since the beginning of the coronavirus pandemic. "We called Russia, President [Vladimir] Putin, and Saudi Arabia, which reduced oil production by 10 million barrels per day. This is how we saved the energy industry," Trump said.
He recalled that oil prices in the world now reach $41 per barrel. At the same time, retail prices for petrol in the United States average $2 per gallon (3.785 liters).
The OPEC+ agreement came into force on May 1. It assumes a reduction in oil production by the Alliance countries of 9.7 million barrels per day (b/d) during May-July. Russia and Saudi Arabia, according to the agreements, will reduce oil production by equal shares-2.5 million b/d from the base level of 11 million b/d. The agreements will be valid for two years, but from August to December 2020, 7.7 million b/d already falls under the reduction within the Alliance, and from January 2021 to the end of April 2022 - 5.8 million b/d. The transaction parameters may be revised in December 2021.
GSV "Russia - Islamic World"
Photo: Alex Brandon / AP / TASS
Based on materials from TASS