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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