FakeNews
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OPEC ministers announced a deal on Friday that will increase oil supplies from the producer group, which has been capping output in order to balance the market and boost prices for the last 18 months.
However, OPEC faced pressure to increase output from President Donald Trump and big consumers like India after the cost of crude soared to multi-year highs, boosted by strong demand, dwindling output from Venezuela and renewed U.S. sanctions on Iran.
The members' vastly differing relations with the United States loomed over the meeting following reports that Washington asked its Saudi allies to hike output prior to restoring sanctions on Iran.
Trump also directly blamed OPEC's production cuts for boosting oil prices in a pair of recent tweets. On Friday, the president again urged the group to "keep prices down" at its meeting, even though his decision to sanction Iran was a major factor in boosting the cost of crude.
https://www.cnbc.com/2018/06/22/opec-ministers-strike-deal-on-oil-production-levels.html