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Nairametrics
Home Business News

President Trump says oil cut will be 20 million bpd

Abiola Odutola by Abiola Odutola
April 13, 2020
in Business News, Socio Economic
Trump proposes $25 billion bailout for U.S. airlines, President Trump approves Oracle, Walmart deal with TikTok, US gives reasons it warned citizens against travelling to Nigeria, lists 12 high risk states, Donald Trump, What does Iran’s war with America mean for Africa?, US to stop issuing visa for Birth Tourism, Trump Travel Ban List: Why Nigeria should be excluded  , US spends over $5b in health assistance to Nigeria in 20 years, gives $32.8m for covid-19, Oil Is Back, YouTube suspends President Trump's account

President Trump

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United States President Donald Trump has disclosed that the Organisation of Petroleum Exporting Countries and allies (OPEC+) is looking at 20 million barrels per day oil cut and not the 10 million bpd that is widely reported. He disclosed via his Twitter handle on Monday.

Trump said, “Having been involved in the negotiations,  to put it midly, the number that OPEC+ is looking to cut is 20 million bpd, not the 10 million that is generally being reported. If anything near this happens, and the World gets back to business from the Covid-19 disaster.”

If that happens,  Trump is optimistic that the energy industry will be strong again and far faster than currently anticipated.

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READ ALSO: OPEC Deal: Nigeria to cut oil output by 22% to 1.4mbpd

Having been involved in the negotiations, to put it mildly, the number that OPEC+ is looking to cut is 20 Million Barrels a day, not the 10 Million that is generally being reported. If anything near this happens, and the World gets back to business from the Covid 19…..

— Donald J. Trump (@realDonaldTrump) April 13, 2020

 

….disaster, the Energy Industry will be strong again, far faster than currently anticipated. Thank you to all of those who worked with me on getting this very big business back on track, in particular Russia and Saudi Arabia.

— Donald J. Trump (@realDonaldTrump) April 13, 2020

 


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Tags: Donald Trump's OPEC tweetsDropping crude oil pricesenergy marketNigerian Business NewsOPEC CutsOPEC+ alliancePresident Donald Trump
Abiola Odutola

Abiola Odutola

For further inquiries about this article, contact: Email: abiola.odutola@nairametrics.com Twitter: @AbiolaOdutola @nairametrics

Next Post
OPEC Cut: Nigeria defies Quota, increases crude oil production, FG discloses impact of OPEC+ oil output cut, how to manage post subsidy era

FG discloses impact of OPEC+ oil cut, how to manage post subsidy era

Comments 1

  1. Trump Hater says:
    April 13, 2020 at 6:02 pm

    He’s lying. All he does is lie.
    Fools.

    Reply

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