The OPEC Cartel and other producers will probably have to limit oil production.
US President Donald Trump warned the Organization of Petroleum Exporting Countries (OPEC) not to reduce production. According to him, prices for black gold should be much lower on the basis of market supply.
"I hope that Saudi Arabia and OPEC will not cut oil production. Oil prices should be much lower in terms of supply," Trump wrote Monday at Twitters.
Saudi Arabia said Monday that OPEC and other producers will probably have to limit mining by about 1 million barrels a day to bring the market to equilibrium.