(Bloomberg) -- President Donald Trump is holding a conference call with Russian President Vladimir Putin and Saudi Arabia's King Salman to discuss the resolution of their oil price war, his social media director Dan Scavino said in a tweet.
Earlier Thursday, the OPEC+ alliance that includes Saudi Arabia and Russia tentatively agreed to cut production by a combined 10 million barrels a day after a 31-day price war between Riyadh and Moscow. The two countries will each reduce their own output to about 8.5 million barrels a day.
Russia has sought a production cut from the U.S. as well, but American officials say their output is market-based and automatically slows as the price of oil falls. The three countries on the conference call represent about 40% of the world's liquid oil supplies.
Energy ministers from the Group of 20 nations will discuss further moves to stabilize oil prices in a meeting on Friday.
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