BUSINESS, Commerce, Social media

OPEC And Russia Put Trump’s Call For Lower Oil Price On Ignore

“We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must get prices down now!” Trump wrote on Twitter.

However, at a recent meeting OPEC’s leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out any immediate, additional increase in crude output.

“I do not influence prices,” Saudi Energy Minister Khalid al-Falih told reporters as OPEC and non-OPEC energy ministers gathered in Algiers for a meeting that ended with no formal recommendation for any additional supply boost.

The price rally mainly stemmed from a decline in oil exports from OPEC member Iran due to fresh U.S. sanctions.

Readers Bureau, Contributor

Edited by Jesus Chan

 Do you want to add feedback to this story? Please add a comment in the e-mail box below.

Like our Facebook page https://www.facebook.com/TheReadersBureau

Follow us on Twitter https://twitter.com/readersbureau21