Trump says OPEC doing ‘little’ to help rising gas prices

President Trump again took aim at OPEC on Wednesday, accusing the organization of oil exporters of doing “little to help” rising gas prices.

“The OPEC Monopoly must remember that gas prices are up & they are doing little to help,” the president tweeted Wednesday afternoon, on the Fourth of July holiday. “If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!”

The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!

— Donald J. Trump (@realDonaldTrump) July 4, 2018

In June, OPEC and Russia struck a deal to make modest increases in crude oil production, though it is unclear precisely how much the increase will amount to.

Last month, Saudi Energy Minister Khalid Al-Falih said OPEC would increase production by about 1 million barrels daily, though Nigerian Oil Minister Emmanuel Ibe Kachikwu said the boost would amount to 700,000 barrels each day in the second half of 2018.

Trump has been pressing OPEC to increase its oil production in recent weeks, faulting the cartel for recent increases in prices. 

“Hope OPEC will increase output substantially,” the president tweeted on June 22, the day the deal was announced. “Need to keep prices down!”