ECONOMY/OIL/OPEC/RUSSIA/TRUMP AS PRESIDENT: “U.S. President Donald Trump on Wednesday [12-5-18] called on the Organization of the Petroleum Exporting Countries and its allies not to cut oil production next year, saying it would trigger higher oil prices worldwide…OPEC meets in Vienna on Thursday to weigh production and on Friday [12-7-18] will hold talks with allies such as Russia. Official U.S. government oil production and inventory data are also due on Thursday [12-6-18]. Saudi Arabia, OPEC’s de facto leader, has pressed for steep output reductions but has faced pressure from Trump to keep oil flows steady to keep prices low, rather than reduce inventory. Trump, who has made the U.S. economy one of his top issues, has frequently complained about OPEC this year, as higher crude oil prices have in turn raised fuel prices for consumers and businesses.”
–Susan Heavey, “Ahead of OPEC meeting, Trump urges producers to keep oil flowing,” Reuters, December 5, 2018 6:59 am