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[size=36]Trump: I don't care at all about OPEC and members of the organization are destroying it themselves[/size]
Economy | 08:40 - 05/04/2020
Follow-up - Mawazine News
, US President Donald Trump stressed that he does not care about the Organization of Petroleum Exporting Countries "OPEC" at all, considering that its members are destroying it themselves.
"OPEC does not interest me at all, but they are destroying themselves," Trump said at a press conference Saturday evening.
Trump added that he is ready to impose duties on oil imports if this is necessary, indicating that he will do what he must do to protect the American economy.
Trump has repeatedly stressed earlier that the United States is suffering huge losses due to the current conditions in the global oil markets, stressing the need for Russia and Saudi Arabia to reach an agreement on reducing oil production.
Oil prices are witnessing a continuous decline in recent weeks, due to the significant increase in supply versus demand, which has deepened due to the outbreak of the new type of Corona virus, especially after the failure to reach a new agreement on reducing oil production within the framework of the "OPEC +" group, and according to several insiders, the The failure was due to a dispute between Russia and Saudi Arabia over the issue, amid reports indicating that the United States is seeking to reduce its losses by holding an oil alliance with the Kingdom.
On March 30, Saudi Arabia, which is the leader of the "OPEC" organization, announced that it had decided to increase its oil exports by 600 thousand barrels per day in May to reach 10.6 million barrels, which represents a record rate. Ended 29 / A 43
, US President Donald Trump stressed that he does not care about the Organization of Petroleum Exporting Countries "OPEC" at all, considering that its members are destroying it themselves.
"OPEC does not interest me at all, but they are destroying themselves," Trump said at a press conference Saturday evening.
Trump added that he is ready to impose duties on oil imports if this is necessary, indicating that he will do what he must do to protect the American economy.
Trump has repeatedly stressed earlier that the United States is suffering huge losses due to the current conditions in the global oil markets, stressing the need for Russia and Saudi Arabia to reach an agreement on reducing oil production.
Oil prices are witnessing a continuous decline in recent weeks, due to the significant increase in supply versus demand, which has deepened due to the outbreak of the new type of Corona virus, especially after the failure to reach a new agreement on reducing oil production within the framework of the "OPEC +" group, and according to several insiders, the The failure was due to a dispute between Russia and Saudi Arabia over the issue, amid reports indicating that the United States is seeking to reduce its losses by holding an oil alliance with the Kingdom.
On March 30, Saudi Arabia, which is the leader of the "OPEC" organization, announced that it had decided to increase its oil exports by 600 thousand barrels per day in May to reach 10.6 million barrels, which represents a record rate. Ended 29 / A 43
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