US President Donald Trump said the OPEC + oil group plans to reduce production by 20 million barrels per day, which is twice as much as the 10 million barrels agreed the day before.

“Having been involved in the negotiations, to put it mildly, the number that OPEC+ is looking to cut is 20 Million Barrels a day, not the 10 Million that is generally being reported. If anything near this happens, and the World gets back to business from the Covid 19 disaster, the Energy Industry will be strong again, far faster than currently anticipated. Thank you to all of those who worked with me on getting this very big business back on track, in particular Russia and Saudi Arabia,” he noted.

OPEC + has announced that it had reached a deal and reduced production by 9.7 million barrels per day in May and June.

Having been involved in the negotiations, to put it mildly, the number that OPEC+ is looking to cut is 20 Million Barrels a day, not the 10 Million that is generally being reported. If anything near this happens, and the World gets back to business from the Covid 19.....

— Donald J. Trump (@realDonaldTrump) April 13, 2020