close
MIDDLE EASTERN (B)

Trump Furious Over Saudi Oil Production Cuts Plan

shutterstock_353116925_trump.jpg


U.S. President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production Monday, as tensions rose between the U.S. and its longtime Middle East ally.

“Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!” Trump said in a tweet.

West Texas Intermediate, the U.S. benchmark oil price, had been declining for the hour before the tweet and briefly dipped lower before trading at $60.14 a barrel, down 5 cents for the day at 1:49 p.m. in New York.

U.S. President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production. (Shutterstock)

Copyright © 2018, The Daily Star. All rights reserved.

read more



Source link

admin

The author admin

Leave a Response