Oman's oil minister believes that President Donald Trump has given OPEC some unnecessary flakes. But other Gulf ministers stressed Mohammed bin Hamad al-Rumhi's desire to steer off political enmity with the American leader, who seems to give him the benefits of doubt.
" Sometimes he has not been fair, "al-Rumhi told CNBC's Hadley Gamble while on the Atlantic Council's global energy forum in Abu Dhabi." I'm sure he also has good intention, he thinks he represents the people of the United States, and he thinks this is the way to do it. "
" No one wants volatility, I'm sure Trump will not have volatility, because volatility is difficult to handle, "he said. Trump has spent months criticizing the 1[ads1]4-member cartel to control oil production and urged the group to "OPEC rips us off," Trump said in a tweet in October.
In December, OPEC members along with Russia reached an agreement to cut their crude production by 1.2 million barrels of oil per year. Today from the market to limit the fall in prices, which further drew Trumps ire.
"Unfortunately, there are policies, but sometimes the policy forces people to go to social media or to CNBC to present their case. And that's the reality today, the minister said.