OPEC to U.S.: Please don't pump so much oil!

May 12, 2017

(CNN/Money) OPEC has asked a favor of other major producers: Please stop pumping so much and help us balance the market.

The unusual plea was issued Thursday in the cartel’s closely-watched monthly report, which found that global markets are still suffering from too much supply. The report said that balancing the market would “require the collective efforts of all oil producers” and should be done “not only for the benefit of the individual countries, but also for the general prosperity of the world economy.” It looks like OPEC is openly calling for the United States to participate in a Global Price fixing scheme.