Saturday , April 17 2021

Oil Trumpet Trump says it "urged" OPEC to lower gas prices



US President Donald Trump said on Friday that he "summoned" OPEC and told the cartel they must cut gas prices.

"Gas prices are falling, I called OPEC," I said, "you have to take them. You have to lower them, "and gasoline descends, CNBC quoted President Trump as telling reporters on his way to the Indiana event.

I was not immediately clear what President Trump addressed when he said he had "called" OPEC.

The US president often directed OPEC to Twitter with direct calls on the group of producers to "increase oil flow" or "make it easier" by cutting production, as President Trump says "oil prices are too high."

Earlier this week, when the United States announced that they had suspended sanctions for all Iranian oil buyers, when they expire early next month, President Trump Twitter, "Saudi Arabia and others in OPEC will no longer make the difference with oil in our full sanctions on Iranian oil."

"We have had extensive and productive talks with Saudi Arabia, the United Arab Emirates and other major producers to ease this transition and provide enough supplies," US Secretary of State Mike Pompeo said, announcing the end of the failures. Related: Why this rally in oil will not last

Meanwhile, gas prices in the United States are on the rise. The national average of April 26 is $ 2.883 a gallon of regular gasoline, from yesterday's average of $ 2,877 and $ 2,839 a week earlier, according to the AAA. A month ago, the national average was $ 2.648, and the annual average was $ 2.798.

Robust gas demand this spring and a drop in gas reserves are boosting pump prices, the AAA reported on Thursday.

"As a result, American drivers should expect increased pump prices, while demand remains stable, and stocks are diminishing. In addition, higher crude oil prices – due to OPEC and its partners, a 1.2-fold reduction in production millions of b / d and the tougher US implementation of its crude export sanctions on Iran – are likely to reduce pump prices this summer, "according to the AAA.

By Tsvetana Paraskova for Oilprice.com

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