US producers are eporting more where the price is higher.
President Trump has addressed this issue and says it’s not good. I believe he is going to release strategic oil reserves on the US market to get the price down.
I can’ understand that, but you would think OPEC would counter and raise production. There should be a world overflow of oil, OTOH, it’s helping our balance of trade.
Oil is a commodity. Its price is roughly the same all over the world (depending on its quality).
Trump was speaking of that high price in general -- caused largely by OPEC's withholding of some production.
Mr. President, please release the strategic oil reserves now; the fuel prices are crippling us!