November 14, 2018 / 8:20 PM / a month ago

Macron says agreed with Trump to pressure oil producers

FILE PHOTO: U.S. President Donald Trump leaves after a meeting at the Elysee Palace with French President Emmanuel Macron on the eve of the commemoration ceremony for Armistice Day, 100 years after the end of the First World War, in Paris, France, November 10, 2018. REUTERS/Vincent Kessler

PARIS (Reuters) - French President Emmanuel Macron said on Wednesday that he and U.S. President Donald Trump agreed to put pressure on oil producers to bring down prices.

Oil prices have risen 45 percent since Macron took office in mid 2017 and his government is facing pressure on high prices from a grassroots movement protesting recent petrol tax hikes.

“When I talked at length with Donald Trump on Saturday in Paris, we together took the decision to put pressure on Saudi Arabia and other producers to limit prices,” Macron said in an interview with TF1 TV.

“If you look at prices these last few days, oil prices are starting to fall and I hope that this fall will continue,” he added.

Oil prices rose nearly 2 percent on Wednesday, recovering some lost ground the previous day amid signs that OPEC and allied producers may cut output next month to boost prices.

Reporting by Jean-Baptiste Vey, writing by Leigh Thomas; editing by Michel Rose

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