Will OPEC appease Donald Trump?
OPEC and its allies are set to meet in Algeria on Sunday to discuss the price of oil.
The United States is ramping up pressure on the Organization of Petroleum Exporting Countries (OPEC) to keep oil prices low.
US President Donald Trump said in a statement on Twitter ahead of Sunday’s meeting: “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!”
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Trump wants Saudi Arabia to boost output to make up for the fall in Iranian exports because of the reimposition of US sanctions.
Another round of talks takes place in November, which will coincide with mid-term elections in the US, which are seen as a critical test of the president’s popularity. Low fuel prices at home will be welcome.
What will OPEC do?
Presenter: Hoda Abdel Hamid
Guests:
Mikhail Krutihin – oil and gas analyst, partner at RusEnergy Consulting Agency
Manouchehr Takin – oil and energy consultant, former OPEC officer
Sami Hamdi – Middle East analyst, editor of International Interest magazine
Published On 22 Sep 2018