Yergin said there were two main factors driving the turnaround to the deal that just six weeks ago 'would not have seemed possible.'
But Yergin said: " came to see this as a national security issue, also an employment issue, and a very important factor in the U.S. economy … and he just jumped in."
Firstly, he said, the price of oil was in danger of crashing without a deal as there was limited inventory space left. That would have had "severe repercussions" beyond the oil industry itself and other sectors such as finance. "I think all those things came together but then it was this dealmaker ... Donald Trump who got on the phones," Yergin said. "I would say it looked like a mission impossible a few weeks ago. Turned out, it was mission possible."
OPEC+ is hoping that nations outside of the group, including the U.S., Canada and Norway, will also cut back on production in an effort to shore up prices. For his part, Trump has noted that market forces would naturally curb output stateside, after previously stopping short of saying the U.S. would scale back production.
France Dernières Nouvelles, France Actualités
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