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April 9, 2020, 6:12 p.m. EDT

White House official says Trump spoke with Putin and King Salman

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By Myra P. Saefong

Dan Scavino Jr., an assistant to President Donald Trump, tweeted late Thursday that the president spoke by phone to Russian President Vladimir Putin and King Salman of Saudi Arabia to discuss the oil deal among producers. OPEC and its allies, meeting by video conference, agreed to cut production by about 10 million barrels a day in May and June, Reuters reported , citing a statement from the group. The size of the cuts will ease to 8 million barrels per day from July through December of this year, and OPEC+ would then reduce the cut to 6 million barrels per day from January 2021 to April 2022. The U.S. is not part of OPEC+, but many analysts have said that output cuts would not be successful without the participation of the U.S., which is the world's largest oil producer. June Brent oil settled at $31.48 a barrel, down $1.36, or 4.1% on Thursday ahead of the latest news.

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