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The agreement brings to an end a price war that had been raging between Russia and Saudi Arabia, after the latter pulled out of a previous agreement last month and ramped up production. Russian President Vladimir Putin accused the Saudi kingdom of driving prices down to force competing shale oil producers, including the US and Russia, out of business.
A growth in shale oil extraction has seen the US become the world's largest crude oil producer in recent years. However, American firms need an oil price of around $40 to turn a profit. Trump repeatedly pressed his Saudi Allies to cut a deal with Russia and limit production.
The fall in prices, however, presented Trump with a convenient opportunity to top up the US' national oil reserves. As the market tumbled last month, Trump announced at a press conference that he had ordered US energy officials to buy the dip and "fill it right up to the top."
Comment: This trial-crisis was engineered. It forebodes an inevitable, irreversible lockdown of humanity calculated to concur with earth changes, food shortages and cosmic events. 'Plan' on it.