Democrats Urge Trump to ‘Stand Up to OPEC’ Amid Rising Oil Prices
U.S. Senate Democrats urged President Trump to try to prod OPEC to take steps to lower oil prices and suggested that millions of Americans will see tax cut proceeds canceled out by higher fuel costs. They criticized Trump for not doing more to lower fuel costs and saying that gasoline prices had jumped 25% since he took office. On the other hand, analysts think that the influence of the U.S. on an OPEC meeting is basically zero.
OPEC's mission statement is just flowery rhetoric, meant for oil consuming countries to believe.
"Have a Coke and a smile."
Pure advertising nonsense.
A gentle reminder, the purpose of a cartel is to restrict supply in order to increase prices.
Near as I can tell, OPEC has little interest in stabilizing oil prices, but seems far more interested in restricting oil production sufficiently in order to extract the highest oil price that markets can bear.
The recent Saudi w
