Washington D.C. – During today’s COVID-19 White House press briefing, President Trump commented in terms of how the cost of a global commodity is changing rapidly.
When questioned on the topic of oil prices and his phone call with Russian President Putin, Trump casually mentioned that in a bidding war, because of the glut of reserve, a good bid could go as low as $9/barrel.
That comment from the President of the United States was interpreted as a direct warning shot to the monopoly of OPEP; a global power play using just a few off-the-cuff words.
President Trump also suggested prices at the pump could drop to $0.99/gallon in the U.S. He said that oil prices could be cheaper than water in some parts of the world.
The President’s comments sent shockwaves through the Russia and Saudi Arabian governments.
The Russian and Saudi governments require oil to be a certain price/barrel to function, and the president has always been objective to OPEC.
Trump has had his sights on OPEC for years and spoke about it extensively in this 2011 video.