OPEC cartels and other producers are likely to limit oil production.
US President Donald Trump warned OPEC (Organization of Petroleum Exporting Countries) to cut production. According to him, the price of black gold should be much lower, based on market supply.
"I do not want Saudi and OPEC to cut down on oil production," he said on Monday.
Saudi Arabia said OPEC cartels and other producers should limit about one million barrels a day to bring the market to equilibrium.