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Trump Assails OPEC for High Oil Prices

U.S. President Donald Trump says oil prices are too high and blames the Organization of the Petroleum Exporting Countries. The 14 oil-producing nations in OPEC — Saudi Arabia, Iran, Iraq, Kuwait and Venezuela among them — produce about 40 percent of the world's oil, but about 60 percent of the oil traded on international markets. OPEC's actions, whether to cut or increase production, often heavily influence the price of oil, and by extension the prices consumers and businesses...

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