Oil prices spiked on Thursday morning after U.S. President Donald Trump said that he spoke with the Saudi Crown Prince, and hoped and expected that Saudi Arabia and Russia would “cut back approximately 10 Million Barrels, and maybe substantially more,” sending oil prices soaring by 20%. “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & 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!” President Trump tweeted on Thursday. For anyone wondering why oil prices just spiked by over 25%… https://t.co/xjkfxOAaoS — OilPrice.com (@OilandEnergy) April 2, 2020 Oil prices soared immediately after the tweet, with WTI Crude soaring 25.90% at $25.51 as of 11:04 a.m. EDT and Brent Crude surging 20.57% at $29.83. According to the Saudi’s […]