Home / Energy / France and US working to discipline oil producers

France and US working to discipline oil producers

French President Emmanuel Macron said on Wednesday that he and U.S. President Donald Trump agreed to put pressure on oil producers to bring down prices.

Oil prices have risen 45 percent since Macron took office in mid 2017 and his government is facing pressure on high prices from a grassroots movement protesting recent petrol tax hikes.

“When I talked at length with Donald Trump on Saturday in Paris, we together took the decision to put pressure on Saudi Arabia and other producers to limit prices,” Macron said in an interview with TF1 TV.

“If you look at prices these last few days, oil prices are starting to fall and I hope that this fall will continue,” he added.

Oil prices rose nearly 2 percent on Wednesday, recovering some lost ground the previous day amid signs that OPEC and allied producers may cut output next month to boost prices.

Source: Reuters

Check Also

3rd Agricultural Field workshop hosted by ADNOC Fertilisers

ADNOC Fertilisers, an affiliate of ADNOC Group, hosted at Qasr Al Muwaiji in Al Ain …

Leave a Reply

Your email address will not be published. Required fields are marked *