As reported by Reuters, OPEC has responded to US President Trump’s accusation that OPEC needs to “do something” about oil prices, with OPEC’s president stating that the oil production group does not take responsibility for actions that have sent oil prices rising. Key quotes “Trump has accused the Organization of the Petroleum Exporting Countries in recent weeks of driving gasoline prices higher and urged the group to do more. “OPEC alone cannot be blamed for all the problems that are happening in the oil industry, but at the same time we were responsive in terms of the measures we took in our latest meeting in June,” Organization of the Petroleum Exporting Countries president Suhail al-Mazrouei told Reuters in an interview in Calgary, Alberta. “I feel OPEC is doing its part.” Mazrouei said OPEC is willing to listen to major oil-producing countries, including the United States. OPEC agreed in June on a modest increase in oil production starting in July after its leader Saudi Arabia persuaded arch-rival Iran to cooperate, following calls from major consumers to curb rising fuel costs. Mazrouei, who also serves as energy minister of the United Arab Emirates (UAE), said OPEC member crude producers have enough capacity to handle any unforeseen global supply disruptions. OPEC is seeking a balance between supply and demand, not targeting a crude price, he said. Mazrouei said he did not anticipate needing to call any extraordinary meeting of OPEC member countries before a scheduled meeting in December. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next When is the China CPI/PPI, and how could it affect the AUD/USD? FX Street 4 years As reported by Reuters, OPEC has responded to US President Trump's accusation that OPEC needs to "do something" about oil prices, with OPEC's president stating that the oil production group does not take responsibility for actions that have sent oil prices rising. Key quotes "Trump has accused the Organization of the Petroleum Exporting Countries in recent weeks of driving gasoline prices higher and urged the group to do more. "OPEC alone cannot be blamed for all the problems that are happening in the oil industry, but at the same time we were responsive in terms of the measures we took… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.