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Trump admired low oil prices

US, WASHINGTON (NEWS OBSERVATORY) — US President Donald Trump said that oil prices are now such that he could only dream of.

During Trump’s conversation with the press in Washington, journalists asked how the recent telephone conversation with the Crown Prince of Saudi Arabia, Mohammed bin Salman, went on.

“I asked him what was happening. They have disagreements with Russia. This is what lowered oil prices. And what I can say is that the price of oil is the one I could only dream about. Because the price of gasoline will seriously decline . And this (such an effect on the economy) as tax cuts,” Trump replied.

The OPEC + March 6 countries were unable to agree either to change the parameters of the transaction to reduce oil production, or to extend it. As a result, from April 1, restrictions on oil production in the member countries of the former alliance are lifted.

May futures for Brent crude on the London ICE on Thursday at 19.20 Moscow time fell by 8.4%, to 32.78 dollars per barrel. The price of WTI crude oil at Comex New York fell by 6.16% to $ 30.95 per barrel.

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Article is written and prepared by our foreign editors from different countries around the world – material edited and published by News Observatory staff in our US newsroom.