OIL prices jumped 8 per cent on Thursday after US President Donald Trump said he expected Saudi Arabia and Russia to reach a deal soon to end their battle for market share but gains were capped by fears of a global recession due to the coronavirus. Read more at The Business Times.
Mr Trump also said he had invited US oil executives to the White House to discuss ways to help the industry"ravaged" by slumping energy demand during the coronavirus outbreak.
"This is one of the options and we do not rule this out," he said when asked about the possibility of a resumption of talks with Saudi Arabia. Russian President Vladimir Putin said on Wednesday that oil producers and consumers should find a solution that would improve the"challenging" situation of global oil markets.
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