Inconsistent Oil Market Signals
President Trump announced via his Twitter account that based on his conversations with the Crown Prince of Saudi Arabia, he expressed an expectation that a deal was in the works, and gave a very specific number of barrels that would be cut back. https://twitter.com/realDonaldTrump/status/1245720677660925952
Hours later, the representatives of Russia denied that any such conversations where had.
It is clear from the actual text of President Trump’s Tweet that he did not actually say that there was a deal in the works, but for most who get their information from 3rd parties and may not actually dissect each and every word someone may say, it would appear that was the implication.
In most circumstances, such centrifuge would not be very important, but when the comments of an individual cause markets to move, then those communications have a material weight and should be done so with much care.
