WASHINGTON — President Donald Trump will fight international efforts to collude in energy markets that could impact U.S. energy producers, but the administration cannot dictate decisions on oil production to American companies, a White House adviser said on Friday. White House economic adviser Larry Kudlow, speaking in an interview on Bloomberg Television, also said he sees no reason why Trump's talks with Saudi Arabia and Russia on oil will not "bear fruit" amid the potential for a new global deal between OPEC and its allies to cut global crude supply. Asked if U.S. oil companies would be included in any production cuts, Kudlow said: "We don't dictate oil policies to our oil and gas sectors." "I think... oil companies, seeing a decline in price are going to pull back on production. That's just common sense," he added, speaking ahead of Trump's scheduled meeting with oil company executives at the White House later on Friday.

Source: International New York Times April 03, 2020 14:26 UTC