Trump Blasts OPEC, Says 'Artificially Very High' Oil Prices 'Will Not Be Accepted'
- 6 years ago
President Trump slammed OPEC in a tweet on Friday.
President Trump took to Twitter on Friday and blasted OPEC for high oil prices.
"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!" Trump wrote.
His tweet comes as the markets are seeing the oil prices at highest levels in over three years.
While the president didn't provide more details, CNBC notes, he is "likely referring to OPEC's production level agreement with Russia and other producers put in place last year and set to expire at the end of 2018."
Some members of the Organization of the Petroleum Exporting Countries are disputing Trump's assertion.
According to Reuters, they have stated that "prices were not artificially inflated."
President Trump took to Twitter on Friday and blasted OPEC for high oil prices.
"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!" Trump wrote.
His tweet comes as the markets are seeing the oil prices at highest levels in over three years.
While the president didn't provide more details, CNBC notes, he is "likely referring to OPEC's production level agreement with Russia and other producers put in place last year and set to expire at the end of 2018."
Some members of the Organization of the Petroleum Exporting Countries are disputing Trump's assertion.
According to Reuters, they have stated that "prices were not artificially inflated."