OREANDA-NEWS. The US administration plans to send its representative to Saudi Arabia to stabilize the situation in the oil market. This was reported by Reuters agency, citing a senior official.

According to the publication, Washington believes that the oversaturation of oil markets by Saudi Arabia exacerbates the situation in the world economy in connection with the consequences of the outbreak of a new coronavirus. The US Department of Energy representative is expected to be in Riyadh for at least several months. He will work closely with representatives of the US State Department and the energy attache.

In addition, US officials say that the White House will continue to cut global oil production through sanctions against Iran and Venezuela.