Intel: Trump laments oil price war as Saudis lose key defenders in Congress

President Donald Trump on Tuesday bemoaned the oil price war between Saudi Arabia and Russia that has rattled energy markets and exacerbated coronavirus-related layoffs throughout the United States. Saudi Arabia’s ramped-up oil output is also alienating many of its previously ardent defenders in Congress, who come from oil-rich states severely impacted by the feud with Russia. 

“They are going to get together and we’re all going to get together and we’re going to see what we can do because we don’t want to lose an industry,” Trump told reporters at the White House. “You’re going to lose an industry over it, thousands and thousands of jobs.”

Trump also noted that he has discussed the issue directly with Saudi Crown Prince Mohammed bin Salman and Russian President Vladimir Putin.

Why it matters:  Trump’s comments came after he spoke with Sen. Kevin Cramer, a Republican senator from North Dakota — one of the hardest hit states — on Monday.