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About: http://data.cimple.eu/news-article/e4d8fa79971840e2c21130a22effeeb20a4b443ba3c33cc681e22c96 Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	US President Donald Trump said Tuesday he was ready to help resolve an escalating oil price war between Russia and Saudi Arabia that has helped push crude benchmarks to 17-year lows. The threat of a global recession triggered by the coronavirus pandemic had already hammered prices when Riyadh said last month it would raise exports after a production-cut agreement among top producers flopped in early March. On Monday, Saudi Arabia said it would increase exports further to a record 10.6 million barrels per day from May, deepening a global supply glut as crude recorded its biggest monthly and quarterly price plunges in history. Trump said he had spoken with his Russian counterpart Vladimir Putin and Saudi Crown Prince Mohammed Bin Salman by phone with the aim of halting the slide. "The two countries are discussing it. And I am joining at the appropriate time, if need be," Trump said. Saudi Arabia had been exporting around 7.0 million barrels per day under an output reduction agreement among a 24-member producer alliance known as OPEC+, which included Russia. OPEC+ failed to reach an agreement on further production cuts to shore up sagging prices as the coronavirus battered the global economy last month. Analysts say Riyadh is engaged in a deliberate long-term strategy to capture greater market share by pressuring its high-cost rivals. "Saudi policy will not just drive more expensive forms of oil production out of the market; it will also make it harder for renewable energy to compete with fossil fuels," said Bernard Haykel, a Saudi expert at Princeton University. The price war has also hit shale oil producers in the US, with Trump telling Tuesday's press conference that the production dispute threatened "thousands and thousands" of jobs. In a letter last week to US Secretary of State Mike Pompeo, a group of US senators accused Saudi Arabia and Russia of waging "economic warfare against the United States". vog/sdu/gle/fox
schema:headline	Trump says ready to help end Saudi-Russian oil-price war
schema:mentions	Fox Mohammad bin Salman OPEC Riyadh Princeton University Great Recession Mike Pompeo Renewable energy Fossil fuel Prince Presidency of Donald Trump Saudi Arabia Russia Vladimir Putin Pandemic United States Coronavirus President of the United States Donald Trump Bernard Haykel Tight oil The Threat (1949 film) Sdu (publishing company) Vog Price war
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-04-01 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	76 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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