Trump told Saudi: Cut oil supply or lose U.S. military support [Reuters]
Exxon Mobil Corporation (XOM)
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Source: Reuters
Special Report: Trump told Saudi: Cut oil supply or lose U.S. military support - sources WASHINGTON/LONDON/DUBAI (Reuters) - As the United States pressed Saudi Arabia to end its oil price war with Russia, President Donald Trump gave Saudi leaders an ultimatum. In an April 2 phone call, Trump told Saudi Crown Prince Mohammed bin Salman that unless the Organization of the Petroleum Exporting Countries (OPEC) started cutting oil production, he would be powerless to stop lawmakers from passing legislation to withdraw U.S. troops from the kingdom, four sources familiar with the matter told Reuters. The threat to upend a 75-year strategic alliance, which has not been previously reported, was central to the U.S. pressure campaign that led to a landmark global deal to slash oil supply as demand collapsed in the coronavirus pandemic - scoring a diplomatic victory for the White House. Trump delivered the message to the crown prince 10 days before the announcement of production cuts. The kingdom
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- 12/2/24 - Form 4
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