Earlier reports were that US and Canadian officials are discussing putting tariffs on oil from Russia and Saudi Arabia, link here
U.S. President Donald Trump said on Friday he was not considering tariffs but they could be levied "if we're not treated fairly."
On Saturday he firmed up his position:
- "If I have to do tariffs on oil coming from outside or if I have to do something to protect our ... tens of thousands of energy workers and our great companies that produce all these jobs, I'll do whatever I have to do"
Trump also said again on Saturday that Saudi Arabia had told him it had agreed with Russia to jointly reduce output by 10 million barrels/day, or more. Neither of the two have confirmed this as yet. Discussions have been postponed until April 9.
If you need more on the recent developments, these from Friday:
- Oil pares losses on talk of OPEC+ meeting being set for next Monday
- Russian producers ready for oil output cuts if US and Saudi also join in - report
- Russia will join OPEC+ meeting on April 6
- Russian President Vladimir Putin said global cuts of a little above or below 10 million barrels a day are possible
- WTI breaks $28 in the second day of big gains as the crude market embraces socialism
