Trump has called on OPEC to take action to lower oil prices several times this year. The 15-member cartel, along with the Russia-led producers, has capped output since January 2017 in order to end a prolonged and punishing oil price downturn that bankrupted hundreds of U.S. energy companies and heaped financial pressure on crude exporters.
The rebound gained steam earlier this year after production problems in countries like Venezuela and Libya caused the group to cut more deeply than they intended. The Trump administration also boosted prices by restoring sanctions on Iran, OPEC's third biggest producer, and saying it aims to cut the nation's exports to zero by November.
OPEC and Russia's alliance of roughly two dozen producers agreed in June to slightly raise output and restore some of the barrels they took off the market, in part to compensate for the loss of the Iranian supplies.
Despite that, oil prices have moved back towards four-year highs near $80 a barrel for international benchmark Brent crude and above $70 for WTI. The average cost of gasoline has also remained stuck at multi-year highs at roughly $2.85 a gallon and shows few signs of falling before Americans go to the polls in November.
The Trump administration set a deadline for oil buyers to cut imports from Iran for Nov. 4, just two days before the midterm elections.