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Intel: Why Trump is putting OPEC on notice

In a speech at the 73rd session of the UN General Assembly, US President Donald Trump assailed OPEC for "ripping off the rest of the world" — seeking lower oil prices before the crucial 2018 mid-term elections.
U.S. President Donald Trump is seated after addressing the 73rd session of the United Nations General Assembly at U.N. headquarters in New York, U.S., September 25, 2018. REUTERS/Carlos Barria - RC1E4086D740

In addition to ripping US foes such as Iran and Venezuela, President Donald Trump took direct aim at America's Gulf allies during his speech at the UN General Assembly meeting today. With oil prices hitting a four-year high of $82 per barrel, the US leader slammed the OPEC oil cartel after Saudi Arabia and Russia rejected calls to increase production amid looming US sanctions on Iran's oil exports.

"OPEC — and OPEC nations — are, as usual, ripping off the rest of the world."

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