# Trump says Saudis and Russians will not hike oil production, and price jumps - The Washington Post

> Trump said Saudi Arabia and Russia would not hike oil production, and prices jumped on April 2, 2020. Trump said he had spoken with Putin and Crown Prince Mohammed bin Salman about stabilizing oil prices, which had fallen about 60% in the past month. Prices were up more than the excerpt states.

- Date: 2020-04-02 · published 2020-04-02T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5492-trump-says-saudis-and-russians-will-not-hike-oil-production-and-price-jumps-the
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Signals that Saudi Arabia and Russia will avoid a production increase support crude prices after a steep fall, which eases energy cost pressure on feed producers. The effect depends on whether producers follow through.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WTI | 2020-04-02 | 1 | +19.9% | 3.1 | Trump's comments after speaking with Putin and MBS about not hiking output pushed prices sharply higher on April 2. |
| BRENT | 2020-04-02 | 1 | +35.2% | 5.0 | Trump's comments after speaking with Putin and MBS about stabilizing the market caused the April 2 price jump. |
| WTI | 2020-04-05 | 5 | +72.7% | 7.0 | Prices jumped after Trump said he had spoken with Putin and MBS about stabilizing the market (sentiment). |
| BRENT | 2020-04-06 | 5 | +40.0% | 4.8 | Trump's statement that Saudi and Russia would not raise output supported the price jump on April 2. |
| BRENT | 2020-04-07 | 5 | +44.4% | 4.9 | Trump's comments that Saudi and Russia would not raise production lifted prices on April 2. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2025-10-23 | [Oil price jumps and FTSE 100 hits new high after Trump puts sanctions on Russian firms \| Oil \| The Guardian](https://feedsoft.ai/events/8132-oil-price-jumps-and-ftse-100-hits-new-high-after-trump-puts-sanctions-on.md) | +3.3% | +1.6% |
| WTI | 2019-01-01 | [Oil Jumps Most Since June on Saudi-Russian Pact, Trade War Truce](https://feedsoft.ai/events/61727-oil-jumps-most-since-june-on-saudi-russian-pact-trade-war-truce.md) | +9.7% | +17.5% |
| WTI | 2026-04-02 | [Oil price jumps and markets slide after Trump warning to Iran \| Oil \| The Guardian](https://feedsoft.ai/events/12923-oil-price-jumps-and-markets-slide-after-trump-warning-to-iran-oil-the-guardian.md) | -2.2% | +6.1% |
| WTI | 2020-04-02 | [Oil rallies as Trump talks up truce hopes for Saudi-Russia price war](https://feedsoft.ai/events/5490-oil-rallies-as-trump-talks-up-truce-hopes-for-saudi-russia-price-war.md) | +23.3% | -2.7% |
| WTI | 2020-04-09 | [Saudi Arabia and Russia end their oil-price war with output cut agreement](https://feedsoft.ai/events/53548-saudi-arabia-and-russia-end-their-oil-price-war-with-output-cut-agreement.md) | -20.7% | -1.1% |
| BRENT | 2025-10-23 | [Oil price jumps and FTSE 100 hits new high after Trump puts sanctions on Russian firms \| Oil \| The Guardian](https://feedsoft.ai/events/8132-oil-price-jumps-and-ftse-100-hits-new-high-after-trump-puts-sanctions-on.md) | +4.1% | +1.9% |
| BRENT | 2019-01-01 | [Oil Jumps Most Since June on Saudi-Russian Pact, Trade War Truce](https://feedsoft.ai/events/61727-oil-jumps-most-since-june-on-saudi-russian-pact-trade-war-truce.md) | +10.8% | +17.2% |
| BRENT | 2026-04-02 | [Oil price jumps and markets slide after Trump warning to Iran \| Oil \| The Guardian](https://feedsoft.ai/events/12923-oil-price-jumps-and-markets-slide-after-trump-warning-to-iran-oil-the-guardian.md) | -2.8% | +8.2% |

## Sources

- washingtonpost.com: https://www.washingtonpost.com/business/2020/04/02/trump-russia-saudi-oil/

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