Saudi Arabia calls for an urgent meeting of OPEC+ following Trump phone call

HOUSTON – After a phone call between President Donald Trump and Saudi Arabia’s Mohammed Bin Salman, the kingdom called for a multinational meeting to discuss oil markets.

A statement released by the state-run Saudi Press Agency read, in part, “the Kingdom calls for an urgent meeting of OPEC + and a group of other countries, with the aim of seeking a fair agreement that will restore the desired balance to the oil markets.”

The statement made no reference to an agreement to cut production by 10 MMbbl, as President Trump suggested in a tweet following his call with Bin Salman. He did not clarify whether the 10 million barrels was a daily or a total production figure.

“This call [for a meeting] comes in the framework of the Kingdom's constant efforts to support the global economy in this exceptional circumstance, and in appreciation of the request of His Excellency the President of the United States of America Donald Trump and the request of friends in the United States,” the Saudi Press Agency statement concluded.