BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
COOKIE NOTICE

Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

Trump again blasts OPEC for rising gasoline prices

Natural Gas | Oil

Platts Scenario Planning Service

Commodities | Natural Gas | Oil | Refined Products

Brazil Oil and Gas Conference

Natural Gas | Natural Gas (North American) | Oil | Crude Oil

Más de la mitad de la producción de gas y petróleo del golfo de EE. UU. sigue cerrada tras el huracán Barry: BSEE

Trump again blasts OPEC for rising gasoline prices

Washington — US President Donald Trump Wednesday again tweeted critical comments against OPEC, claiming that the producers' group was driving up domestic gasoline prices while the US provides many members with military assistance.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

"The OPEC Monopoly must remember that gas prices are up & they are doing little to help," Trump tweeted shortly before 5 pm EDT (2100 GMT) Wednesday. "If anything, they are driving prices higher as the United States defends many of their members for very little $'s. This must be a two way street. REDUCE PRICING NOW!"

Wednesday's tweet was the fifth Trump tweet since April 20 aimed at OPEC's influence over oil prices.

On Saturday, Trump tweeted that he had asked Saudi King Salman to increase oil output by as much as 2 million b/d to counter the impact of supply losses from Iran and Venezuela.

"He has agreed," Trump tweeted of the Saudi ruler.

Analysts and market observers have told S&P Global Platts that Trump's tweets are an attempt to defer blame for rising oil prices. But, they point out, prices are largely rising due to Trump's own policies, particularly his plan to re-impose sanctions on Iran.

"I don't see these tweets as effective," former US Energy Secretary Bill Richardson told Platts Tuesday. "I think it gets the OPEC members, especially the Saudis, irritated and they feel pressured."

During the Clinton administration, Richardson met privately with Ali Naimi, Saudi Arabia's then-oil minister, and other OPEC representatives and encouraged them to keep prices stable through increased production.

"I did it quietly, because I think if you do it openly, they feel pressured and it limits their ability to manage the situation," Richardson said. --Brian Scheid, brian.scheid@spglobal.com

--Edited by Maurice Geller, maurice.geller@spglobal.com