Tags: Donald Trump | Trump Administration | opec | oil prices | oil supply | energy | oil futures

Trump Rips OPEC: 'Reduce Pricing Now'

Trump Rips OPEC: 'Reduce Pricing Now'
President Donald Trump (Seth Wenig/AP)

By    |   Wednesday, 04 July 2018 05:27 PM

President Donald Trump on Wednesday called on OPEC to "reduce pricing now" because the cartel is "driving prices higher as the United States defends many of their members for very little" money.

"This must be a two-way street," the president declared on Twitter:

Trump has long slammed OPEC for high oil prices — and Iran last month accused the president of stoking volatility after he withdrew from the nuclear deal in May.

Oil prices have risen around 60 percent over the last year after the Organization of the Petroleum Exporting Countries and some non-OPEC producers, including Russia, started reducing supplies in 2017.

The cartel agreed last month to raise its daily oil production by up to one million barrels over its current output.

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Calling on OPEC to "reduce pricing now," President Donald Trump on Wednesday said the cartel is "driving prices higher as the United States defends many of their members for very little" money.
opec, oil prices, oil supply, energy, oil futures
176
2018-27-04
Wednesday, 04 July 2018 05:27 PM
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