President Trump Asks King Salman to Increase Oil Production

President Donald Trump and King Salman bin Abdulaziz Al Saud of Saudi Arabia sign a Joint Strategic Vision Statement for the United States and the Kingdom of Saudi Arabia, during ceremonies, Saturday, May 20, 2017, at the Royal Court Palace in Riyadh, Saudi Arabia. (Official White House Photo Shealah Craighead
President Donald Trump and King Salman bin Abdulaziz Al Saud of Saudi Arabia sign a Joint Strategic Vision Statement for the United States and the Kingdom of Saudi Arabia, during ceremonies, Saturday, May 20, 2017, at the Royal Court Palace in Riyadh, Saudi Arabia. (Official White House Photo Shealah Craighead

President Donald Trump said he asked Saudi King Salman to increase oil production. He asked for the increased oil production to make up the “turmoil & dysfunction in Iran and Venezuela”.

The U.S. President Trump said in a tweet that the Saudi King has agreed to his request for the increased 2,000,000 barrels of oil production.

For the first time since 2014, due to the 13% surge in oil prices in the global oil market, crude rose around $74 a barrel.

President Donald Trump tweeted: “Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & dysfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference.”

Without specifying any timeframe, Donald Trump added in the tweet, “prices to [sic] high! He has agreed!”

The Saudi News Agency SPA said later on Saturday that King Salman had spoken to President Trump about “efforts to maintain the stability of oil markets” without detailing of any increased output as Trump said.

The SPA statement added: “During the call, the two leaders stressed the need to make efforts to maintain the stability of oil markets and the growth of the global economy.”

The SPA statement also added that the leaders discussed “efforts by the oil-producing countries to compensate for any potential shortage in supplies.”

Meanwhile, Iran’s Supreme Leader Ayatollah Khamenei said the U.S. is trying to turn Iranians against the regime.

Ayatollah Khamenei said: “They bring to bear economic pressure to separate the nation from the system… but six US presidents before him tried this and had to give up.”

After the U.S. President announced that the U.S. would pull out of Iran deal, Iran’s rial, ever since, has lost up to 40% of its value.

Hossein Kazempour Ardebili, the OPEC governor of Iran has accused the U.S. and Saudi Arabia of trying to push up oil prices.

Ardebili said: “The market will go up to $100 I am sure as Saudi Arabia said they will plan an increase for July … This was managed between the two to rob the pocket of rest of the world.”

He accused the countries of acting against the foundation of OPEC. Ardebili said, “If this happens, it means Trump is asking Saudi Arabia to walk away from OPEC,” Reuter quoted Ardebili.


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