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US President Donald Trump fired another shot across OPEC’s bow on Wednesday, a day before the oil cartel is set to meet in Vienna to discuss possible production cuts.
“The World does not want to see, or need, higher oil prices!” the Tweet read, in part.
President - Trump - String - Tweets - OPEC
President Trump has issued a long string of Tweets directed at OPEC this year, lashing out at OPEC in the past for restricting production, which raises prices as supply tightens.
Oil prices were down on Wednesday, as OPEC has failed to give the market a clear signal that it will cut production, and that Russia would be on board with a production cut as well, should one be implemented.
WTI - % - EST - Brent - Crude
WTI was trading down 0.08% at 2:24pm EST at $53.21, with Brent crude falling 0.16% to $61.98.
The fate of the OPEC meeting scheduled for December 6 and 7 is murky at best, with OPEC reportedly urging both Libya and Nigeria—two members exempt from the previous round of production cuts—to join in the production cut for this round. Without their...
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