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Trump renews attack on OPEC ahead of group's production meeting

Reuters  |  WASHINGTON 

WASHINGTON (Reuters) - U.S. President Donald Trump said on Wednesday oil prices were too high and blamed OPEC, renewing his attack even as prices fell on Wednesday amid expectation that the group may relax its output cuts later this month.Oil prices have risen by around 60 percent over the last year after the Organization of the Petroleum Exporting Countries and some non-OPEC producers, including Russia, started withholding output in 2017 to reduce excess supply.Some countries have already increased production, and analysts have said the outlook for the oil market for the rest of 2018 is ...

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First Published: Wed, June 13 2018. 18:18 IST
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