On 20 April, US President Donald Trump took to Twitter to lambaste the cartel’s push for higher prices. Within six weeks, Saudi Arabia has gone from advocating higher prices to trying to stop the rally at $80 a barrel. On 20 April, the president took to Twitter to lambaste the cartel’s push for higher prices. On Friday, Saudi Oil Minister Khalid Al-Falih responded, saying his country shared the “anxiety” of his customers. “Oil prices could potentially surge to record high levels to force demand destruction very quickly,” he wrote.

Source: Mint May 26, 2018 09:33 UTC