Donald Trump Challenges OPEC for Cutting Oil Production

OPEC
Ronald Zak/AP

President Donald Trump challenged OPEC on Monday in response to rising oil prices.

“Oil prices getting too high. OPEC, please relax and take it easy,” he wrote on Twitter. “World cannot take a price hike – fragile!”

The price of oil fell one percent after the president’s message on Twitter.

Trump sanctions on oil-producing nations such as Venezuela and Iran threaten to raise the cost of oil as well as OPEC nations tightening up supply.

OPEC cut production of nearly 800,000 barrels a day in January, led by Saudi Arabia.

United States oil exports hit a record 3.6 million barrels a day in February.

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