Oil futures tumbled on Wednesday after United States (US) President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong and as some traders doubted Russia’s commitment to deep production cuts.
Russian President Vladimir Putin and Saudi Crown Prince Mohammed bin Salman agreed during a telephone call on further ”close coordination” on oil output restrictions, the Kremlin said.
Still, many felt Russia was sending mixed signals ahead of the meeting in less than two weeks between the Organisation of the Petroleum Exporting Countries (OPEC) and its allies.
