And I met telephonically with him, and we were able to reach a deal” for production cuts, Trump said. Despite the agreement to cut a tenth of global production, oil prices continued to fall to historic lows. They reached a deal: US military protection in exchange for access to Saudi oil reserves. The kingdom’s vulnerabilities, however, were exposed late last year in an attack by 18 drones and three missiles on key Saudi oil facilities. Saudi energy minister Prince Abdulaziz told Reuters at the time that the crown prince had been “instrumental in formulating this deal.”

Source: bd News24 April 30, 2020 10:52 UTC