# Trump says he spoke to Putin, MBS and expects a 10 million barrel cut

> Trump told CNBC he expected Vladimir Putin and Saudi Crown Prince Mohammed bin Salman to announce a cut of 10 million to 15 million barrels a day, with no timeframe given. WTI settled up 24.67% at $25.32 and Brent jumped 21% to $29.94, both record gains. Trump later said the cut could be substantially more.

- Date: 2020-04-02 · published 2020-04-02T12:00:00.000Z
- Category: geopolitics · region Global · magnitude high
- Page: https://feedsoft.ai/events/5489-trump-says-he-spoke-to-putin-mbs-and-expects-a-10-million-barrel-cut
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A announced cut of this scale would sharply reduce crude supply and lift energy costs. Because no timeline or distribution was specified, the price impact depends on confirmation from the producers.

## Read by commodity

- SBO: bullish ▲
- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2020-04-05 | 5 | +72.7% | 7.0 | Trump's claim of a 10-15 million bpd Saudi-Russia cut drove WTI's record 24.67% one-day gain on April 2, the core driver of the 5-day rally (sentiment/supply expectation). |
| WTI | 2020-04-02 | 1 | +19.9% | 3.1 | Trump's April 2 statement that he expected Putin and MBS to announce a 10-15 million bpd cut was the direct catalyst for the record one-day WTI rally (supply-cut sentiment shock). |
| BRENT | 2020-04-02 | 1 | +35.2% | 5.0 | Trump's statement that Putin and MBS would announce a 10-15M bpd cut triggered the record gains in Brent and WTI on April 2. |
| BRENT | 2020-04-06 | 5 | +40.0% | 4.8 | Trump's claim of a 10-15 million bpd Saudi/Russian cut triggered the record surge in Brent and WTI, a supply-side sentiment shock. |
| BRENT | 2020-04-07 | 5 | +44.4% | 4.9 | Trump's statement of an expected 10-15 mb/d cut was the catalyst for the record Brent gain on April 2. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2020-04-09 | [OPEC and allies agree to historic 10 million barrel per day oil cut](https://feedsoft.ai/events/53545-opec-and-allies-agree-to-historic-10-million-barrel-per-day-oil-cut.md) | -20.7% | -1.1% |
| WTI | 2026-03-01 | [Oil jumps 10% on Iran conflict and could spike to $100 a barrel, analysts say \| Reuters](https://feedsoft.ai/events/8002-oil-jumps-10-on-iran-conflict-and-could-spike-to-100-a-barrel-analysts-say.md) | +35.6% | +50.4% |
| WTI | 2020-05-01 | [OPEC+ Moves To End Price War With 9.7 Million B/D Cut](https://feedsoft.ai/events/53032-opec-moves-to-end-price-war-with-9-7-million-b-d-cut.md) | +23.8% | +86.1% |
| WTI | 2018-11-12 | [OPEC analysis shows need for a production cut of 1 million bpd](https://feedsoft.ai/events/61948-opec-analysis-shows-need-for-a-production-cut-of-1-million-bpd.md) | -6.2% | -15.2% |
| WTI | 2020-06-06 | [OPEC and allies agree to extend record production cut](https://feedsoft.ai/events/52790-opec-and-allies-agree-to-extend-record-production-cut.md) | -8.3% | +2.6% |
| BRENT | 2020-04-09 | [OPEC and allies agree to historic 10 million barrel per day oil cut](https://feedsoft.ai/events/53545-opec-and-allies-agree-to-historic-10-million-barrel-per-day-oil-cut.md) | -20.8% | -7.2% |
| BRENT | 2026-03-01 | [Oil jumps 10% on Iran conflict and could spike to $100 a barrel, analysts say \| Reuters](https://feedsoft.ai/events/8002-oil-jumps-10-on-iran-conflict-and-could-spike-to-100-a-barrel-analysts-say.md) | +31.0% | +62.6% |
| BRENT | 2020-05-01 | [OPEC+ Moves To End Price War With 9.7 Million B/D Cut](https://feedsoft.ai/events/53032-opec-moves-to-end-price-war-with-9-7-million-b-d-cut.md) | +24.9% | +62.4% |

## Sources

- cnbc.com: https://www.cnbc.com/2020/04/02/trump-tells-cnbc-he-spoke-to-putin-mbs-and-expects-saudis-russia-to-announce-10-million-barrel-cut.html

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.