FILE PHOTO: Cars of the Iranian delegation are seen parked outside a building of the Diaoyutai state guesthouse as Iranian Foreign Minister Mohammad Javad Zarif meets Chinese State Councillor and Foreign Minister Wang Yi in Beijing, China, May 13, 2018. REUTERS/Thomas Peter/File Photo
Iran’s Organization of Petroleum Exporting Countries (OPEC) governor appears to be taunting and trolling Donald Trump. Hossein Kazempour Ardebili was quoted Thursday morning saying that Trump’s tweets are backfiring and are sending oil prices higher while at the same time undermining allies of the United States.
“Your tweets have driven the prices up by at least $10 per barrel,” Kazempour said in a message reported by Iranian Oil Ministry’s Shana news service. Then he added: “Please stop it, otherwise it will go even higher!”
Kazempour’s comments about OPEC were made the day after Trump went on Twitter to attack the oil producing organization because it has taken no action about increases in oil prices, which have jumped significantly this year. Trump tweeted on the Fourth of July:
“The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!”
Trump also tweeted about oil prices two weeks ago when he said that he hoped OPEC would increase its levels of production and try to keep prices down. In June, OPEC and Russia reached a deal to allow small increases in oil production but it’s not clear how much the increases will be and if they will have any significant impact on oil prices.
Oil is trading near $78 a barrel, prices have gone up to the highest level in more than three years. OPEC has an output increase plan but their increases were more than offset by supply disruptions causing lower production in Libya, Canada and Venezuela.
Even though OPEC is facing pressure from Trump to produce more, America’s sanctions on members Iran and Venezuela have not been helpful, and neither have Trump’s announced tariffs on Chinese goods which will go into effect this Friday.
“OPEC has not defined oil prices for the past 30 years,” Kazempour told Trump, who is no doubt completely ignorant about the issue. “You impose sanctions on major producers, founders of OPEC, and yet you are asking them to reduce the prices?! Since when did you start ordering OPEC!”
“You are hammering on good guys in OPEC. You are actually discrediting them and undermining their sovereignty, we expect you to be more polite,” Kazempour added.
In Donald Trump’s deluded mind he can post tweets and tell everybody else in the world what to do. He is clearly living in a fantasy land where he is boss of the world and where trade wars and violating international agreements are good ideas.
The Iranian OPEC governor is correct: Donald Trump is hurting, not helping, the situation with oil prices. And now people all over the world are hoping that his rash and dangerous actions don’t plunge the global economy into a deep recession from which it won’t recover for a very long time.
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