OPEC and its allies will maintain a cut-off agreement

                                                                                    INQUIRY

      A source from the Gulf member of the Organization of Petroleum Exporting Countries (OPEC) told Reuters on Tuesday that although President Trump asked OPEC to ease its efforts to raise crude oil prices, OPEC and its allies will continue to implement agreements to cut oil supplies and promote greater compliance.
According to current market data, the so-called OPEC + group "may continue to reduce production until the end of the year," the OPEC source said.
OPEC + Alliance will hold a meeting in April to decide on production policy.
"Oil prices are too high," Trump said in a series of recent tweets on oil prices released Monday since April 2018. OPEC, please relax. The world is so fragile that it can't afford the rise in oil prices!"
After Trump tweeted, oil prices recorded their biggest one-day percentage decline this year, and Brent crude oil futures fell 3.5% on Monday. The contract rose slightly on Tuesday.
Sources said OPEC + will continue to maintain a cut-off agreement to balance the market until "they see inventory decline from current levels" to a five-year average.


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