For India, OPEC Still Holds The Trump Card


For India, OPEC Still Holds The Trump Card

US president Donald Trump on Wednesday claimed credit for beating down global oil prices and busting the monopoly of OPEC, the grouping of oil exporting countries.

“If you look at oil prices, they’ve come down very substantially over the last couple of months. That’s because of me. Because you have a monopoly called OPEC, and I don’t like that monopoly,” Trump said in a White House interview.

He did not say why he deserved the credit for the recent drop in oil prices, glossing over the market forces that have knocked off oil from four-year highs and could again spark a price rally as the picture over shipments from Iran become clearer in the days to come. Read more

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