(Bloomberg) -- Russian President Vladimir Putin and his U.S. counterpart Donald Trump agreed in a phone call Monday that “current oil prices aren’t in the interests of our countries,” Kremlin spokesman Dmitry Peskov said, declining to give any details on what the two might do to change the situation.
Trump called Putin and the two had a lengthy and “constructive” conversation, Peskov said. The leaders agreed that their energy ministers should begin consultations on the oil market, but Peskov wouldn’t say when those contacts might begin.
With crude prices at the lowest levels in nearly two decades, Russian officials continue to say publicly that the situation is “very unpleasant” but not a catastrophe. So far, the Kremlin has shown no sign of willingness to patch up relations with Saudi Arabia following the breakdown of its production agreement with the Saudi-led Organization of Petroleum Exporting Countries.
Peskov declined to comment on whether Putin and Trump discussed Saudi Arabia on the call Monday or if the Gulf kingdom might be involved in any market consultations.
Trump said before Monday’s call that he doesn’t want to see the U.S. energy sector “wiped out” after Russia and Saudi Arabia “both went crazy” and launched into a conflict that depressed oil prices.
--With assistance from Andrey Biryukov and Olga Tanas.
To contact the reporters on this story:
Ilya Arkhipov in Moscow at iarkhipov@bloomberg.net;
Dina Khrennikova in Moscow at dkhrennikova@bloomberg.net
To contact the editors responsible for this story:
James Herron at jherron9@bloomberg.net
Gregory L. White
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