President Trump says oil cut will be 20 million bpd

United States President Donald Trump has disclosed that the Organisation of Petroleum Exporting Countries and allies (OPEC+) is looking at 20 million barrels per day oil cut and not the 10 million bpd that is widely reported. He disclosed via his Twitter handle on Monday.

Trump said, “Having been involved in the negotiations,  to put it midly, the number that OPEC+ is looking to cut is 20 million bpd, not the 10 million that is generally being reported. If anything near this happens, and the World gets back to business from the Covid-19 disaster.”

If that happens,  Trump is optimistic that the energy industry will be strong again and far faster than currently anticipated.

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