U.S. President Donald Trump on Thursday called for the Organization of the Petroleum Exporting Countries (OPEC) to boost oil production to lower the price of the commodity, reports Trend citing Reuters.
Immediately following Trump’s tweet, U.S. crude oil futures fell by more than $1 to $58.33 a barrel and Brent futures were down by more than $1 to a session low of $66.76 per barrel.
Crude oil prices have risen this year amid supply cuts by OPEC as well as U.S. sanctions on OPEC member countries Venezuela and Iran. The drop in production has led to a tightening of oil inventories.
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