President Donald Trump has expressed plans to speak with Russian President Vladimir Putin about the on-going oil price war being carried out between Saudi Arabia and Russia, reports Nasdaq.
“I never thought I’d be saying that maybe we have to have an oil (price) increase, because we do,” said President Trump in an interview with Fox News Channel. Trump has shown his dislike of the continuing price war, which started over disputes about oil production. “They both went crazy, they both went crazy,” said Trump, talking of how the repercussions of the disagreement have gone too far.
The collapsing oil prices pose a dangerous threat to the U.S. shale industry which has already seen detrimental effects since the price war began when OPEC-Russia negotiations dissolved on March 8, 2020.
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