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        <title><![CDATA[Trump says he put Mexico ‘over the barrel’ to force oil deal]]></title>
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            <media:title type="html">Trump says he put Mexico ‘over the barrel’ to force oil deal</media:title>
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        <content:encoded><![CDATA[<p>President Trump says he put Mexico &#8220;over the barrel&#8221; to force a deal to reduce global oil production as the coronavirus&nbsp;tanks demand.</p><p>Trump said Friday that Mexico will cut production and the US will &#8220;help Mexico along&#8221; by doing the same. In exchange, Mexico will repay the US, he said.</p><p>Trump said Mexico&#8217;s president Andrés Manuel López Obrador agreed in a Thursday phone call to cut production by 100,000 barrels a day. In exchange, the US will cut 250,000 barrels, he said.</p><p>Trump is seeking to broker an international agreement <strong>after a dispute between Russia and Saudi Arabia</strong>, the largest producer in the Organization of Petroleum Exporting Countries.</p><p>The US is the world&#8217;s top oil producer, followed by Saudi Arabia and Russia. Trump this week <strong>inserted himself as a mediator</strong>.</p><p>Mexico produces about as much as Nigeria and Venezuela, which are OPEC members.</p><p>Trump&#8217;s rollout during a White House press conference was light on specifics, including how Mexico would repay the US, how he would achieve a US production cut and whether a deal actually had been firmed up.</p><p>On Friday, before the briefing, Trump spoke with Russian President Vladimir Putin.</p><figure id="attachment_15467796"  class="wp-caption aligncenter"><strong><noscript><img data- data-src="/uploads/2020/04/usa-covid19-pandemic-coronavirus.jpg" class="lazyload" src="data:image/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==" /><noscript><img  data-src="/uploads/2020/04/usa-covid19-pandemic-coronavirus.jpg" /></noscript></noscript><img class="lazyload" src='data:image/svg+xml,%3Csvg%20xmlns=%22http://www.w3.org/2000/svg%22%20viewBox=%220%200%20210%20140%22%3E%3C/svg%3E' data- data-src="/uploads/2020/04/usa-covid19-pandemic-coronavirus.jpg" /></strong><figcaption class="wp-caption-text"><span>President Donald Trump</span><span class="credit">EPA</span></figcaption></figure><p>&#8220;We are trying to get Mexico, as the expression goes, over the barrel,&#8221; Trump said at the White House briefing. &#8220;And Mexico is committing to do 100,000 fewer barrels. President [Obrador] and I spoke last night. We have a great relationship.&#8221;</p><p>&#8220;The United States will help Mexico along and they&#8217;ll reimburse us sometime at a later date when they&#8217;re prepared to do so,&#8221; Trump said. &#8220;And we had a great conversation but we&#8217;ll find out how that all works out. As you know they&#8217;re trying to get rid of the glut of oil.&#8221;</p><p>Trump said reducing production could safeguard US oil industry jobs.</p><p>Mexico&#8217;s president &#8220;did have some political difficulty with it, frankly, and I understand that too,&#8221; Trump said. &#8220;And it&#8217;s a small amount for us, it&#8217;s a large amount from Mexico but it&#8217;s a very small amount for the United States&#8230;. We&#8217;re number one in the world we want to keep it that way. So we&#8217;re helping Mexico out. We will be reimbursed in a form, sometime in the future.&#8221;</p><p>Trump stirred confusion saying later in the briefing that &#8220;it doesn&#8217;t cost us anything&#8221; to cut production because the oil remains in the ground.</p><p>But Trump added that the deal wasn&#8217;t final: &#8220;We will be reimbursed in the future, maybe in the near future, maybe in the more distant future — but we&#8217;ll be reimbursed by Mexico in a certain way and it&#8217;ll be fine. But we get Mexico over the hump. Now with all of that being said, that doesn&#8217;t mean the deal is going to happen anyway because they still have a lot of different states.&#8221;</p>]]></content:encoded>
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