Don't blame us, OPEC says of Trump spray

The president of OPEC has defended the oil producer group against US President Donald Trump's recent demands for higher oil output.

The president of OPEC has defended the oil producer group against US President Donald Trump's recent demands for higher oil output, saying OPEC does not shoulder the blame.

Trump has accused the Organization of the Petroleum Exporting Countries in recent weeks of driving petrol prices higher and urged the group to do more.

"OPEC alone cannot be blamed for all the problems that are happening in the oil industry, but at the same time we were responsive in terms of the measures we took in our latest meeting in June," OPEC president Suhail al-Mazrouei said on Monday.

OPEC agreed in June on a modest increase in oil production starting in July after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to curb rising fuel costs.

Mazrouei told a Reuters interview in Calgary, Alberta that OPEC member crude producers have enough capacity to handle any unforeseen global supply disruptions.


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Source: AAP



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