Trump: OPEC keeps oil prices 'artificially very high'
US President Donald Trump criticized OPEC for output reductions that have helped raise oil prices and said the action would not be tolerated.
"Looks like OPEC is at it again," he wrote. "With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!"
WTI oil prices hit a three-year high above $69 a barrel this week and were still trading above $68 on Friday. The international benchmark, Brent crude, was above $73 on Friday after also hitting its highest level since November 2014 this week, CNBC reported.
The president is likely referring to OPEC's production level agreement with Russia and other producers put in place last year and that is set to expire at the end of 2018.