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.
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."
Trump continued: “I don't like it, and nobody should like it.”
Without naming them, Trump went on to demand that the Arab Gulf states pay for US military protection — the same case he's made with Europe and NATO. US support, however, is largely aimed at containing Iran, raising questions about America's leverage.
