No, moron... in 2020 he pressured OPEC to CUT production by the largest ever amount... because prices were crashing.
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.
The other driving factor was likely due to a dearth in oil demand, where the “producers found they couldn’t sell their oil.” Crude demand has taken a hit in recent weeks as measures taken by authorities to stem the spread of the coronavirus pandemic have left major economies effectively frozen.
“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.”
His comments came after OPEC+ finalized an agreement to cut production by 9.7 million barrels per day — the single largest output cut in history.