Trump says Saudis must compensate for drop in Iran oil supply

[DonViejo]

JULY 2, 2018 / 5:30 AM / UPDATED 3 HOURS AGO

Trump says Saudis must compensate for drop in Iran oil supply

Jeff Mason

BERKELEY HEIGHTS, N.J. (Reuters) - President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S. ally Saudi Arabia to raise supplies to compensate for lower exports from Iran.

Trump said in a tweet on Saturday that Saudi Arabia’s King Salman bin Abdulaziz Al Saud had agreed to produce more oil. The White House later walked back the president’s comments, saying the king had said his country could raise oil production if needed.

On Sunday, in an interview with Fox News’ “Sunday Morning Futures with Maria Bartiromo,” Trump reiterated his call on Saudi Arabia to raise production to a new record, arguing that it should help the United States lower fuel prices since Washington is helping Riyadh in its struggle against Tehran.

“Don’t forget the one negative to the Iran deal is that you lose a lot of oil, and they got to make up for it. And who is their big enemy? Iran. OK. You think of it. Iran is their big enemy, so they are going to have to do it,” Trump said. “And I have a very good relationship with the (Saudi) king and with the crown prince of Saudi Arabia and with the others around and they are going to have to put out more oil.”

Oil prices rose last week on worries that U.S. sanctions against Iran would take away significant volumes of crude oil from world markets while oil demand worldwide increases.

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https://www.reuters.com/article/us-usa-trump/trump-says-saudis-must-compensate-for-drop-in-iran-oil-supply-idUSKBN1JS0XU

[shraby]

1. Now that he's king of the United States, he's expanding his kingship to the world.

[DetlefK]

2. Newsflash: Last year Saudi-Arabia negotiated with Iran how to cut oil-production to raise prices.

Now that prices are up, Saudi-Arabia will totally work to bring them down again.

[Ilsa]

4. This is the big, dangerous problem with being a narcissist:

He refuses to concede that other world leaders may have unilateral agreements with each other. He keeps thinking the US is the center of all trade.

[DetlefK]

6. The deal between Saudi-Arabia and Iran was complicated:

Both sides wanted to cut oil-production. But neither trusted the other one to stick to the agreement, so no agreement was made.
"What if we sell less oil, drive the price up, and the other side keeps selling oil?"

Going by this, I doubt that Saudi-Arabia has appetite for more oil-production.

[beachbum bob]

3. like mexico paying for his wall...

[SidDithers]

5. You get more oil from Canada than anyone else...

You dumb orangefuck.

Sid