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What makes the dollar strong?

Aug 23, 2019

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Trump wants OPEC to keep oil prices down

Andy Uhler Sep 21, 2018
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The logo of the Organization of the Petroleum Exporting Countries (OPEC) is seen at the headquarters building in Vienna on April 4, 2013.
ALEXANDER KLEIN/AFP/Getty Images

The countries that make up OPEC as well as Russia and other oil-producing allies will meet this weekend in Algeria. On the agenda: Upping supply. On Thursday, President Donald Trump tweeted, “We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher oil prices! We will remember. The OPEC monopoly must get prices down now!”

Getting prices down could be complicated. Supply from Iran is already at two-year lows, and new U.S. sanctions on the country are set to go into effect in November. That will curtail output and could bring a spike in oil prices. 

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