Major U.S. oil companies and industry groups are opposed to mandated cuts, which would be an extraordinary step in the United States.
Prices drop after a proposed meeting is delayed, but the energy secretary expects a 10% to 15% drop in production after a meeting later this week.
When the three-year Saudi Arabia-Russia production-cut marriage known as OPEC+ ended acrimoniously on March 6, the oil and gas world as we know it ended. For now.
Trump said April 2 he had brokered a deal between Russia and Saudia Arabia, but made no offer to reduce U.S. output, and benchmark Brent oil futures surged 21% in a record one-day rise. Here are analysts’ views on the deal.
A Texas oil and gas regulator on April 2 said he talked with Russian Energy Minister Alexander Novak about the possibility of both Russian and Texan producers' trimming production.
Stabilizing the oil markets is expected to be a challenge because demand has collapsed.