Government & Regulatory | Oil & Gas Prices
US Energy Secretary: End to Oil Price War Nears, Production Cuts Imminent
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U.S. Energy Secretary Dan Brouillette has stated that he expects the oil price war between Saudi Arabia and Russia will end this week with a successful agreement regarding production cuts, according to a report by Reuters.
This comes after Brouillette spoke to the energy ministers from both countries.
It also furthers the reports from last week in which US President Donald Trump stated that an agreement to cuts was on the horizon. Trump said the cuts will likely fall between 10-15 million barrels per day.
Brouillette has since reaffirmed that estimate.
While an OPEC+ meeting was set for Monday April 6, it has been rescheduled for "later this week," according to a statement Brouillette made to Fox Business Network.
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