Trump Announced Russia and Saudi Arabia Forthcoming Oil Deal

US President Donald Trump expressed confidence that Moscow and Riyadh will soon come to an agreement within oil market situation. “I think that Russia and Saudi Arabia at some point are going to make a deal. It will be in the not too distant future, because it is very bad for Russia and very bad for Saudi Arabia, it is very bad, bad for both sides,” Trump assured during a speech on April 1 in the White House. At the same time, the American leader noted that in case an agreement is not reached, he has his own action plan. According to Trump, he already knows what to do but would not want to resort to this option. Thus, on March 19, The Wall Street Journal reported that Washington is considering the option of exerting diplomatic pressure on Saudi Arabia and imposing sanctions against Moscow to stabilize oil prices. The US president added that on Friday he will meet with representatives of leading US oil companies to discuss options for helping them. On April 1, it became known that the large American company Whiting Petroleum engaged in the production of shale oil filed for bankruptcy. The collapse in oil prices occurred on March 9 amid reports of the OPEC + transaction termination starting April 1. The contract provided for a reduction in oil production. At the same time, Saudi Arabia has already announced plans to increase production.