President Donald Trump told OPEC on Thursday that its members should start pumping more oil, marking his second warning to the producer group this year as crude prices continue to rise.
Trump’s latest tweet comes as OPEC and a group of allies led by Russia are cutting production following a collapse in oil prices in the final months of 2018. The output curbs have played a major part in the rebound in the oil market this year.
Oil prices briefly extended losses after Trump’s tweet, but crude futures bounced off session lows and climbed toward’s the day’s highs by mid-morning.
