Friday , July 30 2021

Trump complains about high oil prices: "OPP, please relax and calm down"



US President Donald Trump complained on Monday about "too high" oil prices in his Twitter account and urged OPEC to "relax and reassure."

"Oil prices rise too high, OPEC, please relax and calm down, the world can not experience a higher price increase" "Poor!", The president says.

Last January, analysts at the Bank of America Merrill Lynch (BofAML) said that oil supply levels are falling and may be leads to a slight deficit markets this year.

Experts have detailed that after surrendering crude oil of 1.3 million barrels per day (bpd) recorded in the last quarter of 2018, investor positioning is reflecting a downward trend and "is now starting to turn the exponent"Oil tanker."

Meanwhile, on January 30 prices of crude oil they increased by more than 2% following the sanctions imposed by the United States against the state oil company Petróleos de Venezuela (PDVSA), a measure likely to cut oil exports from OPEC member countries and alleviate some problems with global surplus supply, according to Reuters.

Trump did not mention for the first time the Organization of Petroleum Exporting Countries and Crude Oil Prices.

On December 5, the US head of state said the world "needs no higher oil prices". "We hope that OPEC will maintain oil production at current, unlimited levels," said at Twitter at the White House.

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