A price war that began a month ago between Saudi Arabia and Russia against the backdrop of the outbreak of the Corona virus (Covid 19) led to a decrease in the price of Brent mix crude to about $ 32 a barrel after it It was about $ 65 at the end of last year.
Oil prices have fallen by nearly two-thirds this year after Corona disrupted demand and as Russia and Saudi Arabia, the two major oil producers, increased their production in a war over a market share. >
Trump has previously said that he expects the two countries to reach an agreement to reduce production by 15 million barrels per day, and neither country has confirmed his statements, but Trump expects that it is possible to avoid imposing duties .
He added, "I will use the tariffs if I have to, but I do not think that I will have to do that because the Russians will not benefit from this and Saudi Arabia will not benefit from that oil and gas as their main sources of income." So it is obviously very bad for them.
