Risking Trump ire, OPEC builds case for supply cut, warns of glut in 2019

OPEC built a case on Tuesday for cutting oil output when it meets next month, warning that a supply glut could emerge in 2019 as the world economy slows and rivals increase production more quickly than expected. Worried by a drop in oil prices and rising supplies, OPEC is talking again of reducing production just months after increasing it.

Such a shift would anger US President Donald Trump, who on Monday urged OPEC not to cut supply. In a monthly report, the Organization of the Petroleum Exporting Countries said world oil demand.

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