The collapse in oil prices and the ensuing losses forced the United States to start negotiations with both Saudi Arabia and Russia, which has a final say.
The fact that the Americans are “ripe” for negotiations is evidenced by the fact that the United States quickly found the lever with which they could manage their own oil producers.
Under United States laws, a country's administration cannot directly affect domestic oil production.
However, this can be done by the Texas Railroad Commission, which approves the work plans of mining companies in the country's most oil-bearing region and, accordingly, can become a regulator of oil production.
And now the Commissioner of this commission, Ryan Sitton, declares that he held talks with Russian Energy Minister Alexander Novak, during which they discussed the reduction of daily oil production by 10 million barrels per day.
I look forward to a conversation with the Saudi prince Abdulaziz bin Salman al-Saud
- he added.
Commenting on Seetton's post, former senior adviser to Saudi Minister of Oil, professor economics King Abdulaziz University and a member of the Supreme Economic Council of the country Mohammed al-Shabban assured that Riyadh is ready to fulfill its obligations.
The ball on the Russian side
- he added, making it clear that the last word on this issue belongs to Russia.
How interesting the proposals of the United States and Saudi Arabia are for Russia will become clear from the results of the OPEC + meeting, which will be held on April 6 via videoconference.