© 2024 Connecticut Public

FCC Public Inspection Files:
WEDH · WEDN · WEDW · WEDY
WECS · WEDW-FM · WNPR · WPKT · WRLI-FM · WVOF
Public Files Contact · ATSC 3.0 FAQ
Play Live Radio
Next Up:
0:00
0:00
0:00 0:00
Available On Air Stations

Trump To Speak With Putin About Russia's Oil Price War With Saudi Arabia

President Trump speaks at the daily coronavirus briefing on March 29.
Tasos Katopodis
/
Getty Images
President Trump speaks at the daily coronavirus briefing on March 29.

President Trump revealed he'll be speaking with Russian President Vladimir Putin on Monday about, among other things, oil prices.

In an interview with Fox and Friends on Monday morning, Trump expressed concern that the recent price war between Russia and Saudi Arabia was endangering the oil industry.

"We don't want to have a dead industry that's wiped out," Trump said. "It's bad for them, bad for everybody. This is a fight between Saudi Arabia and Russia having to do with how many barrels to let out. And they both went crazy; they both went crazy."

Earlier this month, Russia, which cooperates with OPEC, the oil cartel, declined to cut production in order to boost prices. Saudi Arabia, in response, offered deep discounts on its product, in a move that would potentially flood the oil market. A glut in an already oversupplied market would almost certainly hurt the U.S. shale industry.

Trump has previously said that low oil prices, which have led to low gasoline prices, were helpful to consumers. But the low prices have also lead to layoffs in the U.S. energy industry. Oil prices, which are hovering around $20 per barrel, are at their lowest levels since 2002.

The president also said he would discuss the coronavirus pandemic with Putin, as well as trade, but bristled when asked whether he would lift economic sanctions on Russia, saying he has been tougher on Russia "than any president in history."

Copyright 2021 NPR. To see more, visit https://www.npr.org.

NPR News' Brian Naylor is a correspondent on the Washington Desk. In this role, he covers politics and federal agencies.

Stand up for civility

This news story is funded in large part by Connecticut Public’s Members — listeners, viewers, and readers like you who value fact-based journalism and trustworthy information.

We hope their support inspires you to donate so that we can continue telling stories that inform, educate, and inspire you and your neighbors. As a community-supported public media service, Connecticut Public has relied on donor support for more than 50 years.

Your donation today will allow us to continue this work on your behalf. Give today at any amount and join the 50,000 members who are building a better—and more civil—Connecticut to live, work, and play.

Related Content