Congressman Pete Olson

Representing the 22nd District of Texas

Olson Statement on OPEC Agreement to End Oil Market Manipulation

April 13, 2020
Press Release

Washington, DC — Rep. Pete Olson (TX-22) today issued the following statement in support of action by President Trump that resulted in an agreement between Russian and Saudi Arabian leaders to halt oil-market dumping and market manipulation:

“This OPEC agreement is welcome news to a crippled energy industry in Texas and throughout the United States. While demand is at an unprecedented low due to COVID-19, this energy war between Russia and Saudi Arabia added undue pressure on energy-producing nations. I was proud to join Republican Whip Steve Scalise and my House colleagues on a letter to Saudi Arabia demanding this very outcome. President Trump acted decisively in brokering this agreement and I’m thrilled with the result. The decision by OPEC to collectively withhold 9.7 million barrels a day from the global markets is a critical move as we continue to address the global COVID-19 pandemic and try to restore economic activity. It will save jobs, reinforce our economy and bring needed certainty to the markets during this challenging time.”