Saudi Arabia, Russia raise stakes in oil standoff - Reuters:
Saudi Arabia will raise its crude supply to a record high in April, the kingdom announced on Tuesday, as it ratcheted up a standoff with Moscow over market share and appeared to reject Russian overtures for new talks.
The clash of oil titans Saudi Arabia and Russia sparked a 25% slump in crude prices on Monday, triggering panic selling and heavy losses on Wall Street’s main stock indexes, already hit badly by the coronavirus outbreak.
U.S. President Donald Trump spoke with Saudi Arabia’s Crown Prince Mohammed bin Salman in a call on Monday to discuss global energy markets, the White House said on Tuesday.
Amin Nasser, CEO of Saudi Aramco (2222.SE) said the oil giant would increase supply to 12.3 million barrels per day (bpd) in April for customers inside the kingdom and abroad.
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