Major oil-producing nations are leaning towards keeping a lid on production throughout 2019, defying President Donald Trump’s calls to open the taps and cut the cost of crude.
OPEC and a group of allies led by Russia are trying to keep supply and demand in balance and stabilize prices by pumping less oil. Over the weekend, a committee representing the so-called OPEC+ alliance strongly signaled the group will extend the policy, which has helped to boost oil prices by about $20 a barrel this year.
https://www.cnbc.com/2019/05/20/opec-is-poised-to-defy-trump-once-again-by-keeping-a-lid-on-oil-output.html?__source=twitter%7Cmain