Trump calls on OPEC to 'relax' rising oil prices

25/02/2019 Argaam

 

US President Donald Trump on Monday urged OPEC to rein in rising crude prices.

 

"Oil prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike - fragile!" Trump said in a tweet.

 

The US President has tweeted frequently since last year about the need to reduce oil prices, calling on OPEC to do “more to help ease the pressure on importers.”

 

Oil prices have risen more than 25 percent this year due to output cut by OPEC+, easing concerns over the economic impact of the US-China trade war and Washington’s imposition of sanctions on Venezuelan oil shipments.

 

International benchmark Brent crude futures were last trading down at 73 cents (- 1.3 percent), at $66.27 per barrel, while the US West Texas Intermediate (WTI) crude futures dipped 73 cents (-1.3 percent), at $56.53 a barrel.

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