Trump calls on OPEC to 'relax,' says oil prices are too high

[Eugene]

Source: Reuters

BUSINESS NEWS FEBRUARY 25, 2019 / 7:18 AM / UPDATED 3 HOURS AGO

Trump calls on OPEC to 'relax,' says oil prices are too high

WASHINGTON (Reuters) - U.S. President Donald Trump on Monday expressed concern about oil prices and repeated his previous calls on the Organization of the Petroleum Exporting Countries (OPEC) to keep prices steady.

On Monday, oil prices edged up amid political uncertainty and sanctions and involuntary curbs on several producers but could face pressure from continued anxiety over the global economy and record U.S. exports.

“Oil prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike - fragile!” Trump, whose administration has sanctioned crude from Iran and Venezuela, tweeted.

OPEC members and non-OPEC producers such as Russia are leading efforts to rebalance the market and support oil prices.

Trump, who has made the U.S. economy one of his top issues, has repeatedly tweeted about oil prices and OPEC, airing complaints about higher prices, including ahead of the organizations meeting in December.

Reporting by Susan Heavey and Makini Brice

https://www.reuters.com/article/us-usa-trump-opec/trump-calls-on-opec-to-relax-says-oil-prices-are-too-high-idUSKCN1QE1GW

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Also: Oil tumbles after Trump tells OPEC to 'relax' (Reuters)

[Wounded Bear]

1. I'm sure they'll get right on it...

[SCantiGOP]

2. Yep, price dropped to 35 cents a gallon this morning

What a masterful deal-maker.

[duforsure]

3. He must have a list

Of distractions he can use daily to create conflicts away from his putin and russia problems , and especially his Acosta Epstein problems with child sex ring promoters. This is fluff to distract.

[Joe941]

4. Gas needs to go to 10$ a gallon...

To save our environment.

[tymorial]

7. That wouldn't work

Everything else would increase in cost to match.

[DetlefK]

5. Oil-prices are actually too low, due to overproduction.

Saudi-Arabia started overproducing oil years ago to oversaturate the market, drop the price and kill the emerging fracking-industry.

Except that fracking didn't die.

Now everybody is producing too much oil, because everybody wants to sell as much as possible, because the price is too low, because everybody is producing too much oil.

[struggle4progress]

6. Other over-priced things: Mar-a-Lago memberships, Trump Tower Grill taco bowls,

Ben Carson's office furniture, ....

[Paladin]

8. Mr. "Art Of The Deal" strikes again. (nt)

[Yo_Mama_Been_Loggin]

9. That boy is a fucking genius