Trump Tweet Says Saudi Arabia Shouldn't Cut Oil Production - Bloomberg:
President Donald Trump criticized Saudi Arabia’s announced plan to cut oil production on Monday, as tensions rose between the U.S. and its long-time Middle East ally.
“Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!” Trump said in a tweet.
West Texas Intermediate, the U.S. benchmark oil price, had been declining for the hour before the tweet and briefly dipped lower before trading at $60.14 a barrel, down 5 cents for the day at 1:49 p.m. in New York.
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