OREANDA-NEWS. The magazine American Conservative writes that the recent agreement of OPEC+ countries to reduce oil production led US President Donald Trump into a “petroleum trap.”

The article emphasizes that the American leader take credit for the conclusion of the deal, citing the fact that he was the one who managed to convince Mexico to make concessions. Nevertheless, the authors of the publication call Trump’s success illusory, since he cannot promise a decrease in production in the United States and make a significant contribution to the scheme for reducing global oil production.

It is assumed that US oil companies will continue to experience a crisis amid oversupply in the global energy market, and many of them will go bankrupt, and this can provoke a crisis “worse than that of the 1930s.”

The authors believe that this situation is leading Trump into a “petroleum trap”, which will force him to turn to other countries for help in return for easing or partial lifting of sanctions, including restrictions imposed on Russia.