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Trump calls on OPEC to 'relax,' says oil prices are too high

Published 25/02/2019, 12:40
© Reuters. U.S. President Donald Trump arrives at the National African American History Month Reception at the White House in Washington

WASHINGTON (Reuters) - U.S. President Donald Trump on Monday expressed concern about oil prices and repeated his previous calls on the Organization of the Petroleum Exporting Countries (OPEC) to keep prices steady.

On Monday, oil prices edged up amid political uncertainty and sanctions and involuntary curbs on several producers but could face pressure from continued anxiety over the global economy and record U.S. exports.

"Oil prices getting too high. OPEC, please relax and take it easy. World cannot take a price hike - fragile!" Trump, whose administration has sanctioned crude from Iran and Venezuela, tweeted.

OPEC members and non-OPEC producers such as Russia are leading efforts to rebalance the market and support oil prices.

© Reuters. U.S. President Donald Trump arrives at the National African American History Month Reception at the White House in Washington

Trump, who has made the U.S. economy one of his top issues, has repeatedly tweeted about oil prices and OPEC, airing complaints about higher prices, including ahead of the organizations meeting in December.

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