Trump speaking at his coronavirus daily breifing
- says US producers have already cut back oil production
- says a lot of progress has been made over the past week in dispute between Russia and Saudi Arabia on oil production
- says he has a lot of options if OPEC and Russia do not cut oil production
The daily briefings cover a lot of ground apart from his comments on the virus crisis. Comments on oil ahead of the OPEC+ meeting due today now.
Indications are pointing towards an agreement being reached, but stranger things have happened.
- Kuwait indicates OPEC+ is 'moving towards' production cut of between 10-15m bpd
- Algeria's oil minister said production cuts at OPEC+ could reach 10 mbpd.
- Saudi Arabia's sovereign-wealth fund pours $1bn into stakes in 4 European oil firms
The meeting officially kicks off at 4 pm Vienna time, which is (10am NY time).
