Trump says King of Saudi Arabia agrees to increase oil production

Washington – US President Donald Trump said that King Salman of Saudi Arabia had accepted his request for an increase in oil production.

"I just spoke to King Salmán of Saudi Arabia and I explained to him that because of the tensions and unrest in Iran and Venezuela, I ask Saudi Arabia to 39, increase its oil production, perhaps to 2,000,000 barrels "Trump wrote in a tweet, adding," Prices are too high! He accepted! "

The Organization of Exporting Countries of oil (OPEC) agreed on June 23 with Russia and its other partners, a group of 24 countries that contribute to more than 50% of global oil production, increase production.

According to Saudi Arabia and Russia, the deal will mean an increase of nearly one million barrels a day with which they would witness the expected increase in global demand, reported AFP.

The cartel and its allies have been committed since the end of 2016 with a pact to limit production to drive up prices.

The strategy seems to have worked, if one takes into account that the Brent barrel, benchmark on the world market, rose from about 50 dollars at the end of 2016 to more than 80 dollars in May.

But experts have estimated that the rise decided a week ago was too "imprecise" to significantly influence prices and meet Donald Trump's demands to lower oil prices for the summer.

The President of the United States has repeatedly criticized OPEC in recent weeks, accusing him of not acting. "I'm expecting OPEC to increase production considerably, we have to keep prices down!" He wrote on Twitter when the organization made its decision.

In April, he accused the cartel of maintaining "artificially high" prices.

The price of fuel at the service station – a very sensitive figure in the United States because of its influence on the confidence of the population – has increased considerably in recent months. And Americans are in full preparation to begin their summer vacation.