OPEC President Rejects Trump's Critique of Oil Prices

"Opec is not alone at school for all the problems of the oil industry ". the head of the cartel, Suhail bin Mohammed al-Masrui, Reuters agency Monday in Calgary. They had already reacted to the Vienna meeting in June and agreed on higher oil production. Starting in July, members of the oil cartel and other major oil countries, such as Russia, are expected to increase their production by about one million barrels a day, or 1% of global demand

. he added. OPEC emphasizes the balance between supply and demand. OPEC member countries also have sufficient capacity to cope with unexpected disruptions in global deliveries.

Trump recently blamed Opec for rising gas prices. "Opec's monopoly must remember that gas prices rise and provide little help," Trump wrote on Twitter last week. "If anything, they are driving up prices, while the United States is defending many of its members for very little money. It is not a one way street. "Reduce prices now," demanded Trump.

Rising gasoline prices could be a headache for the Republican before the November parliamentary elections. He wants to stimulate the US economy with his tax cuts and the withdrawal of regulation. However, rising oil prices could slow down the recovery as it costs households and businesses a lot of money.