Crude oil: Donald Trump says Saudi king has agreed to ramp up oil production


WASHINGTON: US President Donald Trump on Saturday said Saudi Arabia‘s King Salman had agreed to his request to ramp up oil production.

“Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction 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,” Trump announced in an early morning tweet, adding “Prices to high! He has agreed!”

The announcement comes in the backdrop of US’ assertion of ‘zero tolerance’ against any country or entity that flouts its diktat to stop buying crude from Iran beyond a November 4 deadline.

Iran being its third largest supplier of oil, India is poised with a possible oil problem after the deadline. Saudi Arabia, India’s second biggest supplier along with Kuwait and Iraq are expected to cover the shortage

Read: How India can cope without Iran

Master

(With AFP inputs)





Source link

Be the first to comment

Leave a Reply

Your email address will not be published.


*