Trump: “oil Prices are not prohibitive”

Trump: “oil Prices are not prohibitive”


Трамп: «Цены не нефть непомерно высоки»

The responsibility for the situation the President laid on OPEC

The US President Donald trump said Wednesday that oil prices are excessively high and blamed it on OPEC.

In the past year, oil has risen about sixty percent after the Organization of countries-exporters of oil, as well as some of the country-the oil producers, not walking in OPEC (particularly Russia), started to reduce oil production to reduce the excess of supply over demand.

Some countries now re-increase oil production. Analysts say that the prospects of the oil market for the remainder of 2018 remains uncertain.

June 22-23, will take place in Vienna OPEC meeting, which will discuss the issue of oil production.

In the US, the increase in gasoline prices threatens to intensify the factors constraining economic growth. The national average at the beginning of the summer holidays, when fuel prices are rising, gasoline costs about three dollars per gallon. Thus, today it is less, than in 2008, during the recession, when the price of a gallon of gas was four dollars.

“Oil prices are not prohibitively large, and again this is OPEC. Not good!” – trump wrote on Twitter on Wednesday.

In recent times he has addressed this issue in April of this year.