<p>President Donald Trump said Thursday that after speaking to Saudi Arabia's leader he expects a slashing of oil production, defusing a Saudi-Russian price war that has heavily impacted the US energy industry.</p>.<p>"Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia," Trump tweeted, referring to Crown Prince Mohammed bin Salman and Vladimir Putin.</p>.<p>"I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!" Trump tweeted.</p>.<p>"Could be as high as 15 Million Barrels," he added in a subsequent post.</p>.<p>It was not clear from the tweets to what extent each of the two countries was intending to cut.</p>.<p>Benchmark contracts Brent North Sea and West Texas Intermediate soared more than 30 percent after Trump's tweet.</p>
<p>President Donald Trump said Thursday that after speaking to Saudi Arabia's leader he expects a slashing of oil production, defusing a Saudi-Russian price war that has heavily impacted the US energy industry.</p>.<p>"Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia," Trump tweeted, referring to Crown Prince Mohammed bin Salman and Vladimir Putin.</p>.<p>"I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!" Trump tweeted.</p>.<p>"Could be as high as 15 Million Barrels," he added in a subsequent post.</p>.<p>It was not clear from the tweets to what extent each of the two countries was intending to cut.</p>.<p>Benchmark contracts Brent North Sea and West Texas Intermediate soared more than 30 percent after Trump's tweet.</p>