Jun 7th, 2018

Trump Becomes a Wild Card for OPEC

The U.S. government has quietly asked Saudi Arabia and some other OPEC producers to increase oil production by about 1 million barrels a day, according to people familiar with the matter. The rare request came after U.S. retail gasoline prices surged to their highest in more than three years and President Donald Trump publicly complained about OPEC policy and rising oil prices on Twitter. Mark Yusko, founder and CEO of Morgan Creek Capital Management, and Bob Yawger, Mizuho Energy futures strategist, talk with Bloomberg's Alix Steel about OPEC and the direction for oil prices. (Source: Bloomberg)