Oil prices recently hit 12-month lows. Opec wants to raise them, President Trump wants them lowered.

Representatives of Opec's current 15 member states meet at its headquarters in Vienna, Austria on Thursday, 6 December, for their latest biannual meeting, where they will set production levels for the next six months.

The expectations are that at the urging of Opec's de facto leader, Saudi Arabia, output will indeed be cut to help boost prices, which fell to their lowest levels in more than a year at the end of November

Saudi Arabia argues that output needs to be trimmed because it fears that otherwise prices could fall further next year due to a predicted slowing in demand for oil.

Both Mr Ahsan and President Trump will not be happy if Opec - which accounts for more than a third of oil supplies - does indeed cut production.

[link to www.bbc.com (secure)]

fuck Opec right in the ass