Trump has again lashed out at OPEC


Трамп вновь обрушился с критикой на ОПЕК

US President, Donald trump has again criticized the oil cartel OPEC, believing that the organization supports the price of “black gold” at too high a level.

“Oil prices are too high, OPEC is doing. Not good!” said trump in his Twitter account.

Thus, the President of the United States is not the first time over the past two months criticizing OPEC. Since April 20 he wrote in the microblog that he considers unacceptable artificially high prices by the oil cartel, reminds TASS.

“It seems that OPEC is at it again. With record volumes of oil everywhere, including loaded vessels at sea, oil prices are artificial and too high. Nothing good, that’s not acceptable,” he wrote in April, the trump.

In response to a tweet the American President, Secretary-General of the Mohammed Barkindo said that OPEC aims to control the price of oil.

Meanwhile, in early June, Bloomberg reported that the U.S. government asked Saudi Arabia and some other OPEC members to increase oil production by about 1 million barrels a day.

According to sources, the request of the American authorities followed after retail prices for gasoline in the United States rose to the highest in the last 3 years, and after the statement of the President of the United States Donald trump about the artificially inflated oil prices.

Recall that in 2016, OPEC and several non cartel countries (OPEC+) signed the so-called “oil Pact”, under which agreed to cut oil production to total 1.8 million barrels per day from the level of October 2016. The goal is to achieve an increase in oil prices. Under the agreement Russia has pledged to “cut back” production by 300 thousand barrels per day. The deal started from the beginning of 2017 and has been repeatedly renewed (the last time until the end of 2018).

Transaction allowed to raise the price of oil falling in 2016 below $30 per barrel, and to reduce the surplus of world oil reserves to the average for the 5 years.

June 22-23 OPEC members+ will meet in Vienna to discuss options for the further implementation of the transaction, including the mitigation of existing restrictions.


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