President Donald Trump calls on oil cartel OPEC to take it easy to reduce production, because oil prices are rising too fast.
In a tweet, Trump reported that the world economy can not have a rise in oil prices because it is too fragile. Since the beginning of this year, oil prices have risen more than 25 percent, partly due to the production cut by OPEC, together with allies like Russia. Saudi Arabia plans to further reduce production in order to boost prices.
In the past, Trump had already been making the OPEC more often because it would manipulate oil prices. After the tweet from Trump, oil prices went down. The price of a barrel of American oil dropped 2.1 percent to 56.07 dollars and Brent dropped 2.2 percent to 65.68 dollars a barrel.
About the author: John Campbell
John Campbell is the godfather of Polimedia and the oldest author from the whole team. His occasional guidance is crucial for everyone he advises.
