Trump, Saudi Arabia’s Crown Prince Mohammed bin Salman discuss energy markets

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US President Donald Trump has spoken with Saudi Arabia’s Crown Prince Mohammed bin Salman on the current global energy markets among other critical regional and bilateral issues, according to a statement from the White House.

The phone call conversation took place on Monday, according to White House spokesman Judd Deere.

Oil prices were up about 8% on Tuesday, one day after facing their biggest rout in nearly 30 years as Saudi Arabia, the world's biggest oil exporter, escalated tensions over its plan to ramp up production.

Read more: OPEC and Russia ‘jump off the cliff together’ as coronavirus hits oil demand

Saudi Aramco confirmed it will be raising its crude supply, which includes oil to its customers inside the kingdom and abroad, to 12.3 million barrels per day (bpd) in April, CEO Amin Nasser said.

(With Reuters)

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