CNBC
April 20, 2018
President Donald Trump blasted the oil-producing cartel OPEC on Twitter Friday.
“Looks like OPEC is at it again,” he wrote. “With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!”
Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!
— Donald J. Trump (@realDonaldTrump) April 20, 2018
WTI oil prices hit a three-year high above $69 a barrel this week and were still trading above $68 on Friday. The international benchmark, Brent crude, was above $73 on Friday after also hitting its highest level since November 2014 this week.
The president is likely referring to OPEC’s production level agreement with Russia and other producers put in place last year and that is set to expire at the end of 2018.
This article was posted: Friday, April 20, 2018 at 7:35 am
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