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President Trump Wednesday criticized OPEC's oil cartel on Twitter, saying he "was doing little to help" high gas prices in the United States
"If anything either, they push up the prices of their members for very little dollars, "said Trump. REDUCE PRICES NOW!
Last month, the 15 OPEC member states agreed to pump a further one million barrels of crude oil every day, a measure that should help contain the recent surge in global oil prices. 39; energy. However, there has been little discernible effect on US gas prices.
According to AAA, the national average gas price was $ 2.86 per gallon, the highest in four years. However, the organization said it was 11 cents cheaper than the average price of the last Memorial Day.
Over the weekend, Trump said that he had received assurances from King Salman of Saudi Arabia that the kingdom would increase oil production by "perhaps up to 2,000. .000 barrels ". Saudi Arabia acknowledged the call, but did not mention any production targets
The Trump administration urged US allies to end all Iranian oil purchases after that the president had taken America out of the nuclear market last May. Prices have also risen with ongoing unrest in Venezuela and fighting in Libya over control over oil infrastructure in that country.
The administration relies on Saudi Arabia and other OPEC members to provide enough oil to offset Iranian exports
On Wednesday, the price of Brent crude oil rose to $ 78.16 per barrel, compared to $ 74.14 per barrel of US crude oil
President Trump shakes hands with Saudi Crown Prince Mohammed bin Salman at the White House in March
(AP)
Saudi Arabia currently produces some 10 million barrels of crude oil per day. His record is 10.72 million barrels a day. Saudi Aramco CEO Amin Nasser told reporters in India on Monday that the state oil company had an unused capacity of 2 million barrels. oil a day. That was after Saudi Energy Minister Khalid al-Falih said the kingdom would honor OPEC's decision to stick to an increase of 1 million people. barrels
"Saudi Arabia can obviously provide as much as the market would need.respect of the 1 million barrels ceiling – and at the same time be respectful of allotting some to the countries that deliver it" , said al-Falih at the time.
The administration has threatened its close allies Korea with sanctions if they do not cut Iranian imports in early November.South Korea accounted for 14% of exports Iran's oil last year, according to the US Department of Energy.
China is the largest importer of Iranian oil with 24%, followed by India with 18%, Turkey was 9% and Italy 7%
The State Department stated that "He expected the" vast majority "of countries to comply with US demand
Associated Press contributed to this report. 19659018]
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