Russian President Vladimir Putin and US President Donald Trump agreed that their top energy officials should meet to discuss the current state of the global oil market, according to the Kremlin.

During the agreement, which happened during a telephone conversation on Monday of this week (March 30), “opinions on the current state of global oil markets were exchanged. It was agreed there would be Russo-American consultations about this through the ministers of energy,” said the Kremlin in a statement. It did not disclose what would be discussed but Moscow has previously indicated that it would like to see more countries joining efforts to balance global oil markets. 

Elsewhere, the Trump administration is trying to persuade Saudi Arabia to decrease crude output. It is said to be planning to send a special energy envoy, (Victoria Coates), to the kingdom imminently. 

Goldman Sachs analysts have said that oil demand from commuters and airlines, (which account for about 16 million barrels per day of global consumption), may never return to former levels. 

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3rd April 2020