Trump Urges Producers To Keep Oil Flowing Ahead Of OPEC Meeting

U.S. President Donald Trump on Dec. 5 called on OPEC and its allies not to cut oil production next year, saying it would trigger higher oil prices worldwide.

“Hopefully OPEC will be keeping oil flows as is, not restricted. The World does not want to see, or need, higher oil prices!” Trump wrote in a tweet ahead of the group’s meeting this week to discuss possible cuts.

OPEC meets in Vienna on Dec. 6 to weigh production and on Dec. 7 will hold talks with allies such as Russia. Official U.S. government oil production and inventory data are also due on the same day.