U.S. President Donald Trump on Monday said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting oil supply next year, citing softening demand.
"Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!" Trump wrote on Twitter, referring to the Organization of the Petroleum Exporting Countries.
(Reporting by Lisa Lambert, Editing by Rosalba O'Brien)