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France, United States Move To Crash Oil Price


France President Emmanuel Macron has confirmed that he and U.S. President Donald Trump agreed to put pressure on oil producers to bring down prices.

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

He said on Wednesday: “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.”

“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 two per cent on Wednesday, recovering some lost ground the previous day amid signs that OPEC and allied producers may cut output next month to boost prices. (Reuters/NAN)