President Trump has announced that a deal has been reached that will see Saudi Arabia and Russia reduce their oil production to stabilize world markets.
According to The Hill:
President Trump on Thursday said global oil production could drop by 10 million to 15 million barrels in light of talks between Russia and Saudi Arabia.
Russia, however, is reportedly denying those talks took place.
Trump told reporters on Wednesday that he had “great” calls with the leaders of both countries, and said he had “confidence in both that they’ll be able to work it out.”
“I think that Saudi Arabia, Russia, they’re negotiating. They’re talking. And I think they’ll come up with something,” he said.
Despite this good news neither Russia nor Saudi Arabia have yet to confirm Trump’s claim. It remains unknown if they will confirm it even if a deal is reached.