Economics
OPEC Gives Tepid Response to Trump's Demand for Lower Oil Prices
- Group pledges to boost production only if customers ask for it
- Saudi Arabia says the market has all the oil its needs for now
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U.S. President Donald Trump’s demand that OPEC take rapid action to reduce oil prices got a tepid response, with the group saying it would boost output only if customers requested it.
In contrast to the dramatic policy U-turn that Trump’s tweets provoked earlier this year, Saudi Arabia, Russia and their allies signaled less urgency and stopped short of promising specific extra volumes of crude.