President Trump said Thursday he spoke by phone with Russia’s President Putin and Saudi Arabia’s King Salman about the oil industry, in an attempt to salvage jobs amid the coronavirus pandemic, APA reports citing NBC News.
Trump told reporters at the daily White House coronavirus briefing the phone call was a "very productive hour and a half."
The coronavirus outbreak has caused oil prices to plummet because fewer people are driving, planes flying, ships sailing and factories producing goods. Usually, oil-producing countries agree to reduce the supply to increase prices, but Saudi Arabia, who has pushed for even deeper cuts to production, and OPEC — the Organization of the Petroleum Exporting Countries — failed to reach an agreement with Russia, who rejected more cuts, on a way to deal with lower prices.
Trump said with oil prices being pushed down, it threatens U.S. jobs and is working with OPEC and the two countries to get a compromise.
"We had a very good talk; we'll see what happens," Trump said. "I would say we're getting close to a deal."
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