Trump claims Saudi Arabia will boost oil production


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President Donald Trump says he has received assurances from King Salman of Saudi Arabia that the kingdom will increase oil production, “maybe up to 2,000,000 barrels,” in response to turmoil in Iran and Venezuela.


Trump says on Twitter on Saturday that he asked Salman to increase oil production “to make up the difference…Prices to high! He has agreed!”


His comments come as oil prices have edged higher as his administration pushes US allies to end oil purchases from Iran.


The OPEC cartel recently agreed to pump 1 million barrels more crude oil per day. Trump’s claim of a 2-million-barrel increase for Saudi Arabia alone does not specify a timeframe.


There was no immediate acknowledgment from the Saudi Royal Court that the conversation took place. Officials didn’t immediately respond to a request for comment.


AP


Article source: https://www.watoday.com.au/politics/federal/coalition-eyes-a-hockey-stick-turnaround-as-shorten-stumbles-on-tax-20180628-p4zoez.html?utm_medium=rss&utm_source=rss_politics_federal

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