Trump urges Saudis and OPEC to keep pumping

Pressure on oil prices abated slightly Monday as Saudi Arabia warned about the possibility of curtailed production. The pressure eased for only a moment.

Photo: /ritzaui/AP/Hasan Jamal

The price of oil declined for ten days, showing a brief surge early Monday when Saudi Arabia opened up to the possibility of OPEC cutting production and thereby lowering supply on the world market.

According to Financial Times, Saudi energy minister Khallid Al-Falih informed that market analyses recently conducted by the oil-exporting countries show that lowering oil production by 1 million barrels per day could prove necessary.

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