Following US President Trump’s earlier tweet that he had discussed oil prices with Saudi Arabia’s Crown Prince, Texas Railroad Commissioner Ryan Sitton reports that he discussed with Russian Energy Minister Alexander Novak the prospect of taking 10 million barrels per day off the global oil markets. “…we agreed that #COVID19 requires unprecedented level of int’l cooperation,” Sitton’s tweet read in part. Sitton mentioned that he looked forward to talking with Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman soon as well. Russia and Saudi Arabia’s failing cooperation in the OPEC+ agreement have resulted in increased production from OPEC, with both Saudi Arabia, the UAE, Kuwait, and Russia promising to increase production. Saudi Arabia has previously reported that it has increased its oil production to more than 12 million bpd. The extra barrels on the market coincided with the Covid-19 pandemic, which destroyed global oil demand, pushing down oil prices […]