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Economics
Tuesday, July 10, 2018
US President Trump sees Opec as a "price factor," accusing the organization of a price hike in the United States. ; gasoline. He wants an extraordinary meeting, not OPEC.
The Organization of Petroleum Exporting Countries (OPEC) rejected US President Donald Trump's criticism of oil prices. "Opep is not alone in school for all the problems of the oil industry," said cartel leader Suhail bin Mohammed al-Masrui. They had already responded to the Vienna meeting in June and agreed on a higher oil production.
Starting in July, members of the oil cartel and other major oil-producing countries like Russia are expected to reduce their production by about one million barrels a day or one percent
There n & # There is therefore no reason to hold an extraordinary meeting before the December regular meeting, he added. OPEC emphasizes the balance between supply and demand. OPEC member countries also have sufficient capacity to handle unexpected global delivery interruptions.
Trump: "The Opec do not help"
Trump recently blamed Opec for rising gas prices. "Opec's monopoly must remember that gas prices rise and do nothing to help," Trump said. "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," Trump demanded.
Rising gasoline prices could be a headache for the Republican before the November congressional elections. He wants to stimulate the US economy with his tax cuts and the withdrawal of regulation. However, rising oil prices could dampen the recovery as it costs households and businesses a lot of money.
Source: n-tv.de
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