On Twitter, Trump writes that he has spoken with both Russia and Saudi Arabia and expects "a reduction in oil production of the equivalent of ten million barrels of oil". In an interview with CNBC, Trump confirms the information and said he had talks with both Russian President Vladimir Putin and Saudi Arabia's Crown Prince Mohammed bin Salman.

Shortly thereafter, the message came from Saudi Arabia that it wants to see the oil cartel Opec now gather for a meeting to "stabilize the oil market" according to the country's news agency.

All this has now had significant effects on both the commodity and oil markets. Oil prices are up over 30 percent and a barrel of Brent oil is again trading above $ 30, while the US WTI variant in turn rises to over $ 26 a barrel. The message also gives a hearty injection to the trade on Wall Street where an initial decline turned into a sharp rise.

Lamslagit globally

At the same time as the corona crisis has hit the global economy and reduced demand for oil came another drop almost exactly a month ago when negotiations between the Opec countries and Russia broke down. This was when the Russian government rejected the proposal to limit oil production, which instead led Saudi Arabia to increase its production. Just a couple of days ago, the oil price was down to the lowest level since 2003.