U.S. President Donald Trump has tweeted that he had requested Saudi Arabia to increase the oil production and he agreed to it.
President Trump said that Saudi Arabia will increase about two million barrels of oil production so that Venezuelan and Iranian shortage can be plummeted.
This week, news agency Reuters had quoted oil industry sources as saying that Saudi Arabia will produce 10 million barrels of oil every day from July.
Donald J. Trump
Just talking to King Salman of Saudi Arabia and explaining to him that, because of the turmoil and disfunction in Iran and Venezuela, I’m asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, make up the difference … prices to high! He has agreed!
5:07 pm – 30 June 2018
66.7 thousand people are talking about this
US President Trump has said in his tweet, “Now I talk to Saudi King Salman. Due to Iran and Venezuela, they asked to increase about two million barrels of oil production to meet this shortfall. The price is also very high. They have agreed to increase the oil production. ”
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In the official media of Saudi Arabia, it was reported on Saturday that King Salman and President Trump have stressed on balancing the stability and lack of oil in the oil market.
Saudi Arabia’s media say that the two leaders have a phone conversation. Although no information has been provided that Saudi Arabia will increase the production of 2 million barrels of oil every day.
The Trump Administration is pressurizing the countries to cut oil imports from Iran by November.
Trump had canceled the nuclear deal with Iran and since then the United States has been preparing to impose strict sanctions on Iran.
On its allies in Europe, Asia and the Middle East, the United States is pressing for not to import oil from Iran, so that Iran stops its nuclear program.
The US State Department says that the United States has started negotiations with countries which import oil from Iran.
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China is the world’s largest importer of imports. China buys an average 655,000 barrels of oil every day from Iran.
Although analysts say that if OPEC oil is banned, then many OPEC countries will not be able to meet the market needs.
There is also pressure on India to stop oil imports from Iran. US Secretary of State Hillary Clinton has said that India should rethink oil import from Iran.