Saudi oil production rises despite Trump push

Saudi Arabia boosted oil production to unprecedented levels in November, Reuters reported President TrumpDonald John TrumpFranklin Graham: Trump Defends Christian Faith Trump Calls for "60 Minutes" Report on Family Separation Report pushes down oil prices.

The Saudis produced just over 11 million barrels of crude oil a day during the month, although the average may fluctuate in the last few days of the month, according to the press service. That's about half a million barrels a day compared to October.

OPEC members are scheduled to meet in Vienna on Dec. 6 to discuss production rates, while Trump has publicly urged the organization not to cut production.

Trump has repeatedly criticized OPEC and called on the organization of oil exporters to help lower gas prices.

In June, he again accused the organization of "artificially high" gas prices, adding that "OPEC is again". In July, he accused the organization of doing "little to help" the price of gasoline up. In September, he threatened to end military support in the Middle East if OPEC did not care about oil prices.

On Sunday, the president welcomed the drop in oil prices, tweeting "thank you President T."

The increase in oil production in Saudi Arabia in November appeared as an apparent effort to balance the market as the United States imposed new sanctions on the Iranian oil sector.

Saudi Energy Minister, Khalid Al Falih, said earlier this month that OPEC members could further reduce supply next year to continue balancing the deal. market.

Trump, Saudi Crown Prince Mohammed bin Salman and other world leaders will meet this week in Argentina for the G20 summit.

Tensions between the United States and Saudi Arabia have gained momentum following the assassination of Washington Post reporter Jamal Khashoggi, who died after joining the US consulate. Saudi Arabia in Istanbul on October 2nd. The CIA reportedly concluded that the Crown Prince had ordered his assassination.

Trump drew criticism for reporting the country, and the Crown Prince in particular, will not be punished further for Khashoggi's death. The President has repeatedly stressed the economic ties between the two countries in explaining his decision.