Saudi king agreed to raise oil production: Trump

Saudi king agreed to raise oil production: Trump
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Washington: United States President Donald Trump on Saturday said Saudi Arabia’s King Salman has agreed to his request of raising the oil production “maybe up to 2,000,000 barrels” in order to bring prices down.

“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…Prices to high! He has agreed! (sic),” Trump tweeted.

This comes barely days after the United States has asked countries to cut all oil imports from Iran by the start of November or else face powerful US sanctions.

With this move, the Trump administration has increased pressure on allies to stop funding to Iran.

On June 27, US Ambassador to the United Nations Nikki Haley, who was on a three-day visit to India, told Prime Minister Narendra Modi that it was imperative for India to cut its dependence on Iran for oil.

It is pertinent to mention here that Iran, OPEC’s third-biggest oil producer, exports more than 2 million barrels a day. (ANI)