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Eugene

(61,592 posts)
Thu Sep 20, 2018, 12:34 PM Sep 2018

Trump urges OPEC to drive down oil prices

Source: Washington Post

Trump urges OPEC to drive down oil prices

By Thomas Heath
September 20 at 9:44 AM

President Trump on Thursday again urged Middle East oil producers to unleash their giant petroleum reserves and drive down the price of oil. But this time, he added a new threat by drawing the U.S.-Mideast military umbrella into the equation.

“We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must get prices down now!” Trump tweeted.


The United States maintains a large military presence in the region, including naval forces that keep the sea lanes open for oil tankers. The United States relies on those tankers for its oil imports.

Crude oil prices have been rising over the past year as a result of the Organization of the Petroleum Exporting Countries’ strategy to tighten supply. Prices hit a two-month high Wednesday as Brent crude, the world’s most closely followed gauge, rose above $79 a barrel. This has helped lead to higher prices at the pump. Gas prices have risen to their highest levels in four years and were about $2.85 a gallon over Labor Day weekend. Gas prices are reducing Americans’ spendable cash as voters head to the polls for the midterm election in November.

-snip-


Read more: https://www.washingtonpost.com/business/2018/09/20/trump-urges-opec-drive-down-oil-prices/
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Trump urges OPEC to drive down oil prices (Original Post) Eugene Sep 2018 OP
I'm sure they will get right on that! Va Lefty Sep 2018 #1
He can't help but talk like a mobster, can he? htuttle Sep 2018 #2
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