tweet at 10:32am: Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!Stocks extend rally after Trump tells CNBC Saudis and Russia will ease oil pressure, Dow up 500 points Stocks rose in volatile trading Thursday as oil prices jumped on expectations Saudi Arabia and Russia will ease the pressure off the oil market. The Dow Jones Industrial Average traded more than 350 points higher, or 1.7%. The S&P 500 was up by 1.8% while the Nasdaq Composite climbed 1.3%. WTI crude 19.3% to trade back above $24 a barrel on Thursday after President Donald Trump told CNBC’s Joe Kernen he spoke with Russian President Vladimir Putin and Saudi Crown Prince Mohammad Bin Salman, adding he expects both countries to cut production by about 10 million barrels. Traders have been closely watching oil because of its influence over other financial markets. The oil losses have been so big, that they have caused investors to sell other assets to cover their losses in crude. Plus, the 63% decline in oil this year is hurting the U.S. shale industry, a big driver of the economy and employment. tweet at 10:54am: .....Could be as high as 15 Million Barrels. Good (GREAT) news for everyone!