A rally in oil prices after a two-month slide indicates traders are betting that OPEC and its allies including Russia will agree to produce less crude. Qatar has been feuding with Saudi Arabia and three other Arab nations that accuse it of financing terrorism. Anything less, they say, could set the stage for continued global oversupply next year and send oil prices lower. Trump blamed OPEC and Saudi Arabia earlier this year for high oil prices. “I think (Trump) is starting to realize that if oil prices continue to fall, it might have a negative effect for US producers,” said Phil Flynn, a prominent oil analyst.

Source: Egypt Independent December 04, 2018 14:12 UTC