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Trump warns OPEC against cutting oil production: 'Prices should be much lower based on supply'

From cnbc.com

President Donald Trump on Monday tweeted that he hopes OPEC does not cut oil output, the same day Saudi Arabia's energy minister said the cartel and its allies may need to throttle back production by about 1 million barrels per day. "Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!" he wrote on Twitter. The tweet marks Trump's latest attempt to influence OPEC policy on Twitter. The president has tweeted at the 15-nation producer group several times this year, blaming it for rising oil prices and ordering its members to take steps to tamp down the ... (full story)

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  • Category: Fundamental Analysis