S Arabia unable to raise oil output by 2mn: Iranian OPEC governor

King Salman Saudi Arabia Islamist sympathisers Crown Prince Mohammed bin Salman Saudi Arabi Islamist arrests World news Indian Express

Mr Trump tweeted that he had asked Saudi ruler King Salman to raise oil output by up to two million barrels a day.

The agency didn't say the leaders agreed and didn't make any reference to two million barrels.

The Democratic opposition has blamed part of that increase on Trump's decision to withdraw the United States from the 2015 nuclear deal with Iran, while Republicans fear that rising gasoline prices will boring Americans' enthusiasm for the USA economy as they approach next November's legislative elections.

Helping driving prices higher is President Trump and his administration who has been warning countries no to go on using crude from Iran (China will ignore than).

Trump is concerned about the hike in gasoline prices in the United States, where a gallon costs an average of $2.85, which is 63 cents more than a year ago, according to estimates of the American Automobile Association (AAA).

Saudi Energy Minister Khalid al-Falih met with U.S. Secretary of State Mike Pompeo in Washington on Thursday to discuss energy security.

Last week, members of the Organization of the Petroleum Exporting Countries cartel led by Saudi Arabia and non-cartel members agreed to pump 1 million barrels more crude oil per day, a move that should help contain the recent rise in global energy prices.

Saudi King Salman and US President Donald Trump emphasised the need to preserve oil market stability and the efforts of oil-producing countries to compensate for any potential shortage, in a phone call reported by Saudi state media on Saturday.

France, Spain among Round of 16 favourites on World Cup odds
Whereas, England will need to overcome Colombia , Switzerland and Croatia before Harry Kane gets the famous trophy in his hands. The underdog Koreans stunned the reigning titlists 2-0 and consequently eliminated them from the tournament.

Oil was the star commodity over 2017-18, and now, despite the move by OPEC to ease its production cap (with Russian Federation and other producers), some analysts are wondering when $US100 a barrel will be regained for the first time since 2014.

This comes barely days after the United States has asked countries to cut all oil imports from Iran by the start of November or else face powerful USA sanctions. "He has agreed!", Trump said on Twitter Saturday. Saudi oil officials did not comment.

Interestingly the EIA production data has shown no increase for USA crude output for three weeks now at 10.9 million barrels a day.

The price of Brent, the global benchmark hit $US79.23 on Friday at the close, up more than 2% on the day.

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

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.

The Trump administration has been counting on Saudi Arabia and other OPEC members to supply enough oil to offset the lost Iranian exports and prevent oil prices from rising sharply. At meetings in Vienna on 22-23 June, OPEC and its allies cobbled together a delicate accord in order to satisfy some producers, like Iran and Venezuela, which wanted to limit output, and others like the Saudis, which sought to ease away from the supply cuts.

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