A few days ago, Trump rarely pointed the finger at the Organization of Petroleum Exporting Countries on Twitter: "It seems that the Organization of Petroleum Exporting Countries is doing the same thing again. Now there are record oil stocks everywhere, and even the sea is full of oil tankers. Oil prices have been artificially pushed to a very high level! This is not good and unacceptable! " This is the first time that OPEC has been mentioned on social media since it took office.
Recently, the oil price rose more than $70/barrel, which led to a slight decline in US crude oil futures that day. In fact, we don't know what prompted Trump to release the above tweet at this time, because the measures currently taken by the Organization of Petroleum Exporting Countries are no different from those taken since the beginning of 20 17. Over the past year or so, the Organization of Petroleum Exporting Countries and other oil-producing countries, including Russia, have reduced global crude oil inventories by implementing production reduction agreements.
Trump's above Twitter was therefore attacked and refuted by oil-producing countries. The current chairman of the Organization of Petroleum Exporting Countries denied this on Monday, saying that the Organization of Petroleum Exporting Countries did not artificially raise oil prices, but was holding the same "lofty goal" to save the market. Not long ago, some foreign media quoted Saudi officials as saying that they were happy to see the oil price rise to $80 per barrel, or $ 100. Saudi Arabia is the largest oil exporter in the world.
Trump did not mention what his cabinet might do about oil prices and the Organization of Petroleum Exporting Countries. The outside world believes that the US government cannot legally influence oil prices, and can only intervene by releasing strategic oil reserves.