Read more on this subject: Trump Administration
News Story Source: https://www.zerohedge.com
After months of radio silence, Trump the oil analyst has returned to complain about prices being too damn high.
For the first time since OPEC+ agreed to cut production at its December meeting, Trump has chimed in on Twitter to tell the cartel to "relax and take it easy" because oil prices are "getting too high."
Oil prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike – fragile!
— Donald J. Trump (@realDonaldTrump) February 25, 2019
OPEC and members of an ancillary group led by Russia have been cutting production since the start of the year after striking an agreement during OPEC's December meeting in Vienna to lower output by an aggregate by 1.2 million b/d during the first six months of 2019.
Of those cuts, 800,000 bpd will come from OPEC members, while Russia and its allied producers will cut 400,000 bpd.
More recently, when Trump has tweeted about oil, he has been cheering the advances in US sha
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