Economy

Crude Oil Rises to $36 on Trump’s Comments

Published

5 years ago

April 3, 2020

Crude Oil Rises to $36 Per Barrel

Crude oil rose to a record high in recent weeks after President Trump tweeted that Saudi Arabia and Russia will cut oil production to boost prices.

Investors King had reported that Russian refuted the statement saying there is no ongoing talks or plan of such.

However, Brent Crude oil, against which Nigerian oil is priced, rose to $36.11 per barrel on Thursday before retreating to $31.63 per barrel as at 10:20 am on Friday.

President Trump tweeted that “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!”

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Crude Oil Rises to $36 on Trump’s Comments

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