WASHINGTON (Bloomberg) - The U.S. made its most direct intervention
yet in the oil price war between Saudi Arabia and Russia, urging Riyadh
to “rise to the occasion and reassure” energy markets at a time of
economic uncertainty.
Secretary of State Michael Pompeo spoke to Crown Prince Mohammed bin
Salman on the eve of a conference call between the leaders of the Group
of 20 on the global pandemic and its economic fallout.
“The secretary stressed that as a leader of the G20 and an important
energy leader, Saudi Arabia has a real opportunity to rise to the
occasion and reassure global energy and financial markets when the world
faces serious economic uncertainty,” the State Department said on
Wednesday.
Oil prices have plunged as the Russian-Saudi price war compounded the
unprecedented hit to consumption from the coronavirus pandemic. Futures
pared losses after news of Pompeo’s call, with Brent crude little
changed near $27 a barrel.
https://www.worldoil.com//news/2020/3/25/us-urges-saudis-to-reassure-global-energy-and-financial-markets
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