Washington/Moscow, 31 March 2020 (dpa/MIA) – US President Donald Trump spoke with his Russian counterpart Vladimir Putin on Monday about the global oil price drop and measures to counter the coronavirus pandemic as the death toll rises and economies struggle.
The two leaders “agreed on the importance of stability in global energy markets,” according to a readout from the White House. A Kremlin statement said the sides agreed to continue consultations on energy at the ministerial level.
The terse overview of the call did little to offer new information, as oil prices have continued to plummet, amid a price war between Russia and Saudi Arabia and falling demand because of the coronavirus slowdown.
“They both went crazy,” Trump had told Fox News about Russia and Saudi Arabia ahead of the call. Trump said he does not want the oil and gas industry wiped out, amid rising concerns about how producers will survive when oil is at such lows.
US crude oil dropped below 20 dollars a barrel overnight, though it has since moved up slightly again. Brent also dropped sharply and briefly touched an 18-year low.
On the coronavirus, the White House said the two countries would work through the G20 forum “to drive the international campaign to defeat the virus and reinvigorate the global economy.”