Markets oil OPEC saudi arabia

‘Someone Get King Salman On The Phone’: OPEC+ Just Ignored Trump’s Twitter Demands

Donald Trump is furious about oil prices again and this time around, OPEC doesn't care.

Donald Trump is furious about oil prices again and this time around, OPEC doesn't care.
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2 comments on “‘Someone Get King Salman On The Phone’: OPEC+ Just Ignored Trump’s Twitter Demands

  1. H, when you said Trump was “at his wit’s end” you were 1/2 right. Of course, Trump’s actions/sanctions against Iran were going to take supp;y off of the market. OPED’s response seems rational and in it’s members’ economic interests. Frankly, it’s heartening to see key countries standing up to America’s ‘Bully-in-Chief.’

  2. The paradox, of course, is that those high prices strengthen our burgeoning fracking producers. High prices support the financing and investment activities of our oil industry. As with all commodities, however, prices cut two ways. High prices elate producers while irritating consumers. Subsidies, like the promised 10 billion for soybean farmers, seem to keep both sides happy, unless of course, you happen to be one of the unlucky few who actually pay taxes which have to cover the cost of those subsidies.

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