Russia, US hold energy talks, as Trump complains about oil cheaper than water

U.S and Russian energy officials held rare talks about oil after crude prices crashed to levels last seen about two decades ago, while President Donald Trump said oil that was cheaper"than water" was hurting the industry.

The call occurred a day after Trump and Russian President Vladimir Putin agreed in a phone conversation to have their top energy officials discuss global oil market turmoil. The failure to agree an extension to a pact that had propped up the market since 2016, led to the scrapping of all restrictions and a dash for market share.

The Russian Energy Ministry said on Wednesday the ministers"noted" that the fall in the demand and oversupply created risks for stable supplies to the markets.

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