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U.S. makes rare request of OPEC: Boost oil output
In an unusual demand, the U.S. government has asked Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries to increase oil output by around 1 million barrels a day to help cap rising oil prices, Bloomberg reported Tuesday. The move came after U.S. President Donald Trump in April publicly complained on Twitter (see below) about OPEC policies at rising oil prices around the time retail gasoline prices hit a roughly three-year high, the report said. Bloomberg said the request was debated at a meeting of some Arab oil ministers over the weekend in Kuwait City. Oil futures extended losses ... (full story)
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