Following Trump’s comments, Brent crude oil jumped 10.11 per cent to $27.16 early Thursday, while U.S. West Texas Intermediate crude rose 8.76 percent to $22.09.
In a tweet on Thursday, Mr Trump noted that he expects Russia and Saudi Arabia to cut back “approximately 10 million barrels.” Earlier in the week, PREMIUM TIMES reported how oil prices suffered the biggest decline on record, pulling U.S. crude prices to the lowest levels in 18 years and below $20 for the first time since February 2002.
That surge in output, as well as the ongoing slump for global oil prices, has made drilling in the Permian Basin, a major source of shale deposits that could provide as many as 150 million barrels of oil over the next few decades, economically nonviable. The crash in prices, for instance, has forced the Nigerian government to make significant changes to its budgetary projection.
The mainstream media won't report this, he did this for struggling nation like Nigeria during this covid19 lockdown, kudos trump!!!
Good news for Nigeria. We all better go into Fasting and prayer so the price can go back further up. If not na recession we dey go soooo
yooshamindset see this
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