Are Saudi Arabia and Russia helping Trump out by agreeing to increase oil production?
A new report from Reuters says that Russia and Saudi Arabia “struck a private deal” in September to increase production in order to suppress oil prices. Intriguingly, the pair apparently phoned the U.S. before the Algiers meeting in late September to relay the details of their plan.
The report is an indication that Saudi Arabia was trying to respond to pressure from President Trump to lower oil prices. If the White House was informed about the secret private deal, it didn’t seem to resolve Trump’s concerns. Continue reading