President Donald Trump reacts during the coronavirus response daily briefing in Washington
(Photo: Reuters)

As the Saudis and Russians were pushing and refusing to submit to their share of cuts, Mexico countered the agreement of 10 million oil barrels per day. This has threatened to elevate the initiative, even if a rapid decline in manufacturing activity has become unavoidable as demand waves due to the coronavirus pandemic and the storage capacity. 

The output of Mexico is as high as that of Nigeria and Venezuela, which are members of the Organization of the Petroleum Exporting Countries (OPEC). On Thursday, the alliance of oil producers and its partners declared record supply cuts, however, the proposals were called into question following Mexico's cuts.

President Donald Trump ended up offering what seems like winks and nods about his perpetual targets, the Mexicans, in the shameful disorderly deal to the production of global oil.

President Trump mentioned that he had proposed to "help Mexico along." He stated that the United States would cut back its production and that Mexico could then repay the U.S. He also stressed that he was uncertain of the acceptance of the agreement.

In a Thursday telephone conversation, Trump said Mexico's President Andres Manuel López Obrador has agreed to reduce the production by 100,000 barrels a day and that in return, the U.S. will also reduce 250,000 barrels.

Mexico, which the final agreement is relying on, had questioned the scale of reductions it was asked to make.

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The President of Mexico "did have some political difficulty with it, frankly, and I understand that too," Trump had stated. "And it's a small amount for us, it's a large amount from Mexico, but it's a very small amount for the United States... We're number one in the world, and we want to keep it that way. So we're helping Mexico out. We will be reimbursed in a form sometime in the future," he added. 

Trump, who wishes to support American manufacturers in the promotion of the prices of oil, had asked the Saudis and Russians previously that they will have to embrace market-driven cuts in the United States production rather than their favored technical quotas. Although, in Moscow, with plenty of grumbling, they seemed to be able to do so.

Energy Secretary Dan Brouillette informed the G-20 countries on Friday morning that at the end of the year, U.S. output will decrease by around 2 and 3 million barrels per day.

Trump said that that demand would protect employment in the U.S. oil industry.

Since taking office in December 2018, López Obrador has sought to strengthen Mexico's state oil giant, Pemex, and ramp up production, which has fallen for years. The leftist leader has maintained a cordial relationship with Trump despite substantial policy differences.

López Obrador, ever since he assumed office in December 2018, has been trying to improve the national oil company in Mexico, Pemex, and increase the output that has plummeted for several years.