Wednesday, 29 Mar 2023
Trump ‘hasn’t been fair’ to OPEC: H E Rumhi

Trump ‘hasn’t been fair’ to OPEC: H E Rumhi

“Sometimes he hasn’t been fair,” H E Dr Rumhi told CNBC’s Hadley Gamble at the Atlantic Council’s Global Energy Forum in Abu Dhabi. “I’m positive he has great intention also he thinks he is representing the individuals of the US and he thinks this is the way to do it.

“Nobody wants volatility. I am sure Trump doesn’t want volatility, because volatility is difficult to manage,” H E Dr Rumhi mentioned.

Trump has spent months vocally criticising the 14-member Organization of the Petroleum Exporting Countries (OPEC) for its management of oil output, urging the group to preserve the taps open and costs low.

In December, OPEC members along with Russia reached an agreement to reduce their crude production by 1.2mn barrels per day in order to stem the fall in costs, one thing that additional drew Trump’s ire.

As reported by CNBC, H E Dr Rumhi expressed his eagerness to attain a consensus with Washington that would meet each and every party’s wants when it comes to the oil industry, although that might be far simpler in theory than in practice.

“I wish we could sit together; I would be honoured to sit with him and exchange ideas,” H E Dr Rumhi mentioned, adding, “of course I cannot do that. But the best way is to sit together and say where is the convergence.”

Information Source: Muscat Daily

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