Saudi king agrees to raise oil production, says US Trump

Donald Trump said he asked King Salman to boost oil production

Trump said on Twitter that King Salman agreed to the request, but a state-run press agency in Saudi Arabia didn't confirm the two leaders reached any agreement.

There was no confirmation that Saudi Arabia would increase oil production, as President Trump said.

Trump had blamed the Organization of Petroleum Exporting Countries (OPEC) for keeping oil prices high in the past while he was a businessman, and has recently reiterated his criticism against the cartel. Average prices for unleaded gas, including taxes, averaged $2.83 a gallon for the week ending June 25 - up about 55 cents over the same period previous year.

US President Donald Trump said he persuaded Saudi Arabia to consider steps that would boost oil production, a move that would stretch the world's biggest exporter to the limit and threaten to blow up a fragile truce agreed by OPEC last week.

Oil prices have edged higher as the Trump administration has pushed allies to end all purchases of oil from Iran following the United States pulling out of the nuclear deal between Tehran and world powers.

Meanwhile, Iranian oil production is expected to fall from the fourth quarter of 2018 as USA sanctions take effect.

US oil prices have been boosted by falling domestic stocks - the US Energy Information Administration on Wednesday revealed that crude supplies dropped by 9.9 million barrels for the week ended June 22-the largest weekly drop so far this year. Saudi oil officials did not immediately comment. They also spoke about the efforts of producing countries to compensate for any potential shortage of supply, the statement said.

Blood moon is coming
People in the south of England will be able to see the eclipse for the longest period of time, roughly one hour and 23 minutes. January 31 saw the last blood moon to appear in the skies, during the rare Super Blue Blood Moon .

Saudi Arabia, for instance, says it has 2 million barrels a day in spare capacity, but analysts are skeptical that it can easily and sustainably add more than 700,000 barrels of production a day without drilling and other work that would take time.

"Saudi Arabia obviously can deliver as much as the market would need, but we're going to be respectful of the 1-million-barrel cap - and at the same time be respectful of allocating some of that to countries that deliver it", al-Falih said then. "We maintain our Brent crude forecast of $70.80 per barrel for 2018 and $66 for 2019, following the OPEC meeting, though highlight some moderate upside risks for 2018", she said. The higher gas prices are a serious GOP concern as the midterm elections approach.

He did not specify if the figure was barrels per day (bpd), the normal measure for oil production.

"The Trump support base is probably the part of the US electorate that will be the most sensitive to an increase in USA gasoline prices", Halff told the Associated Press.

Iran's OPEC governor, Hossein Kazempour Ardebili, accused the United States and Saudi Arabia of trying to push up oil prices and said both countries are acting against the foundation of OPEC.

Non-Opec member Russian Federation on June 23 also backed the effort, capping a week of tense diplomacy for the grouping that averted a damaging rift between arch foes Iran and Saudi Arabia.

Related News:

  • Kawhi reaches out to LeBron about teaming up, but where?

    Kawhi reaches out to LeBron about teaming up, but where?

    Other teams reportedly interested in Leonard include the Boston Celtics , Cleveland Cavaliers , Philadelphia 76ers and L.A. The Lakers could potentially construct a superteam of LeBron, Kawhi and Paul George - but according to ESPN's Stephen A.
    Drake just revealed that he has a son

    Drake just revealed that he has a son

    The track itself finds Drake pondering whether there is anything for a superstar like him beyond money and status. Like a number of Scorpion tracks, which react to very recent events, it must have been recorded days ago.
    Joe Jackson dead at 89

    Joe Jackson dead at 89

    However, like many who are thwarted in their own paths, Joe Jackson looked to his children to fulfill his dreams. The band, featuring a 7-year-old Michael Jackson had four singles hit the top spot on Billboard's Hot 100 chart.
  • Colombia tie England's biggest game in a decade, says Southgate

    Colombia tie England's biggest game in a decade, says Southgate

    Striker Kane has been in prolific scoring form, netting 135 goals in all competitions for Tottenham over the last four seasons. The organization has surprised everyone, I think it's given an incredible image of the Russian people, of Russia in general.
    Hundreds of women in D.C. protest ‘zero-tolerance’ immigration policy

    Hundreds of women in D.C. protest ‘zero-tolerance’ immigration policy

    People who have lived through the Holocaust, Japanese internment camps and Trump's family separation policy are expected to speak. Most of the children separated from their families before the order was signed have not yet been reunited with them.

    Gareth Southgate: I was lucky to get second chance to manage England

    As it stands, if England win the group and overcome their second round opponents, they'd face Brazil or Mexico in the quarter-finals.
  • DeAndre Jordan, Mavericks Reportedly Verbally Agree to 1-Year, $24M Contract

    DeAndre Jordan, Mavericks Reportedly Verbally Agree to 1-Year, $24M Contract

    He went from an unheralded second-round draft pick out of Texas A&M in 2009 to become one of the best big men in the league. Although his blocked shots dropped significantly last season, Jordan gives the Mavericks a rim presence they have coveted.
    LeBron James signs massive free agent deal with Los Angeles Lakers

    LeBron James signs massive free agent deal with Los Angeles Lakers

    But George has chose to re-sign with the Oklahoma City Thunder, raising doubts on whether James could head to the Lakers . James's decision came on the first day of free agency, just 20 hours after the market officially opened.
    Cavani hopes calf injury 'is nothing' ahead of France quarter-final

    Cavani hopes calf injury 'is nothing' ahead of France quarter-final

    He was part of the Portugal team that made the semi-finals in 2006, and now has faced round of 16 exits in both 2010 and 2018. Cavani then had to be helped off by Ronaldo before watching the rest of the game from the dugout with ice on a calf injury.
  • France Star Feels Sorry For Lionel Messi

    France Star Feels Sorry For Lionel Messi

    France enters this marquee matchup at +135 on the money line, meaning you'd need to bet $100 on a French victory to win $135. Lloris refused to be drawn on comparisons between the talismanic Messi and France's prodigious winger Kylian Mbappe.
    German team ecstatic after 2-1 win against Sweden

    German team ecstatic after 2-1 win against Sweden

    The Mexicans were awarded the penalty after Jang Hyun-soo handled the ball while trying to stop a cross from Andres Guardado. The Tunisians cut the lead when defender Dylan Bronn headed in a goal in the 18th minute, but Belgium wasn't done.
    Egypt keeper El Hadary becomes World Cup's oldest player

    Egypt keeper El Hadary becomes World Cup's oldest player

    Essam El Hadary became the oldest player in World Cup history on Monday and marked the occasion with a penalty save. Egypt was hurt when midfielder Abdalla Said went off with an injury at halftime.


Most liked

Spain Head Coach Says Not Thinking About Own Future After Russia Loss
Iniesta made a total of 133 appearances for La Roja , winning two European Championships and one World Cup title. Following the loss Iniesta said to the reporters: "It's a reality that is my last game with the national team".

Thief drains bank account of nation's oldest veteran
His family would not discuss the amount of money that was taken but said it was a "considerable amount". He's the oldest man in America, verified by the Gerontology Research Group, and the oldest US veteran.

U.S. officials call for abolition of immigration agency
In Los Angeles, Angelica Salas said she has been marching to fix the immigration system for almost two decades. Protesters here said they were aware that the way they respond to raids will be watched by those other camps.

Are US oil prices set for a test of $76?
Japan and Turkey also import significant amounts of Iranian oil , according to statistics from the U.S. Oil is in a new super cycle and these geopolitical events are going to keep supply tight.

Ronaldo out of World Cup after loss to Uruguay
Uruguay striker Edinson Cavani scored with both of his shots on target tonight. Uruguay and Portugal have never faced each other at a World Cup before.

Ozil In Verbal Spat With Angry Fans As Germany Exit WC
However, La Celeste continue to lag behind the favourites on the World Cup betting futures at +2200. For more sports coverage, visit the ABS-CBN Sports website .

Sanju: Complete Details About ‘Who Plays Who’ In Sanjay Dutts Biopic!
Ranbir is accompanied by many fine actors, Paresh Rawal, Manisha Koirala, Anushka Sharma, Dia Mirza among others. The much-awaited biopic of Sanjay Dutt starring Ranbir Kapoor has been leaked online one day before its release.

Germany’s stunning failure celebrated widely in Russian Federation
Those who remained applauded sarcastically when South Korea's Son Heung-min scored a late second goal into an empty net. Senegal had six, and became the first team in the history of the World Cup to be eliminated via fair play .

Lionel Messi Stuns Reporter With Incredible Heartwarming 'Good Luck Charm' Gesture
We need to know how to play with him and be able to work with him on the pitch, some of them can do it quickly and others not. They'll say I'm an excellent manager if we win, if we lose they'll say I'm very bad".

Supreme Court travel ban verdict reignites fierce debate over immigration
The order contained an exception for members of religious minorities. "I said just pray that this ban does not hold forever". Garaufis in Brooklyn citing Trump's "racially charged language" in a ruling that allowed lawsuits over DACA to proceed.

Apple Reportedly To Unveil High-End AirPods, Over-Ear Headphones For 2019
The original HomePod was supposed to be released to consumers in December 2017 but was delayed until early this year . The current AirPods will be refreshed later this year with a new chip and support for hands-free Siri activation.

Mattis arrives in China; NKorea to be key topic of meetings
Dow Jones Industrial Average if the president keeps raising the tensions with China over bilateral trade issues. Christensen, former deputy assistant secretary of state for East Asian and Pacific affairs from 2007 to 2008.

Pete Davidson confirms his engagement to Ariana Grande
Grande, on her end, is equally as smitten and posted an Instagram Story of her beau on Wednesday, writing, "a flawless specimen". Davidson started his career as a stand-up comedian and joined popular satirical sketch show Saturday Night Live in 2014.

FDA approves first cannabis-based drug
Though other drugs are approved to treat Lennox-Gastaut syndrome, Epidiolex is the first licensed to treat Dravet syndrome. The drugs are listed as Schedule II and Schedule III, meaning they have medicinal value but also potential for abuse.

'Furious And Upset' Maradona Calls For Meeting With Argentina Players
If Iceland wins, then Sampaoli's side can still qualify if it beats Nigeria by two more goals than Iceland wins its game. La Albiceleste have won their previous five World Cup encounters against the African nation.