Trump calls Saudi king to discuss oil reserves

DUBAI (Reuters) – US President Donald Trump has called on King Salman in Saudi Arabia to discuss efforts to maintain supplies to ensure the stability of the oil market and global economic growth.

The call comes just days after the US president criticized OPEC for high oil prices and once again urged the group of exporters to boost crude oil production before the November elections for members of the United States. US Congress.

Saudi Arabia is the world's largest oil exporter and the de facto leader of OPEC.

Speaking at the United Nations General Assembly in New York last week, Mr Trump said that OPEC members were "as usual tearing up the rest of the world".

"I do not like it. Nobody should like it, "Trump said Tuesday.

"We defend a lot of these countries for nothing, and then they take advantage of us by giving us high oil prices. Not good. We want them to stop raising prices, we want them to start lowering prices.

The White House said in a statement that the two leaders had a call "on matters of regional interest" without giving further details.

Oil prices rose more than 1% on Friday, as Brent reached its highest level in four years, as US sanctions against Tehran reduced Iranian crude exports, while other major exporters increased production .

Brent LCoC1 futures prices were $ 82.72 per barrel, while the US CLT1 futures price on West Texas Intermediate (WTI) stabilized at $ 73.25 per barrel.

Saudi Arabia is expected to add oil to the market to offset the decline in Iranian production. Two sources close to OPEC's policy told Reuters that Saudi Arabia and other OPEC producers and non-OPEC countries had discussed a possible increase in production from around 500,000 barrels a day.

But OPEC and other major oil producers have so far ruled out any immediate official increase in production. This decision effectively rejected Trump's calls for oil producers to take action.