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DONALD TRUMP'S OPEC TWEETS
US President Donald Trump has disclosed that the Organisation of Petroleum Exporting Countries and allies (OPEC+) is looking at 20 million barrels per day oil cut and not the 10 million bpd that is widely reported
Oil prices spiked on Tuesday, erasing earlier losses after the U.S President Donald Trump disclosed that he would meet with the Chinese President Xi Jinping at the G20 summit later this month.
OPEC and its allies are scheduled to meet in June to set policy, but progress is clouded with uncertainties as cracks are reportedly emerging in the union.
Nigeria has defaulted in the agreement reached by the Organization Petroleum Exporting Country (OPEC) to cut crude oil production.
Donald Trump called on OPEC to lower oil prices because the world cannot handle a hike.
OPEC said it will not take any deliberate actions towards reducing global oil prices despite Trump's demands.