"Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & dysfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference", Trump announced in an early morning tweet.
The talks centered on whether to amend an 18-month-old supply-cut deal between OPEC members and allied countries, including Russian Federation, that has cleared a global oil glut and lifted crude prices. Trump made the original request because, he said, oil prices are too high.
Opec agreed with Russian Federation and other oil producers to raise output by a million barrels per day earlier this month.
The overt pressure brought by Trump on Saudi Arabia is unusual, but the kingdom has been actively urging the president to withdraw from the worldwide agreement that placed restrictions on Iran's nuclear program.
The statement reported by Saudi media did not mention any intention by Saudi Arabia to raise production by 2 million bpd. Saudi Arabia would like oil prices to remain elevated, while appeasing President Trump.
"This will push the system close to the limit", and spare production capacity could fall below 2 million barrels a day - a level previously associated with $100 per barrel prices, the group said.
Riyadh plans to boost output to 11 million bpd, the highest in its history, in July up from 10.8 mln bpd in June, a source familiar with Saudi output plans toldReuters this week.
Saudi Energy Minister Khalid al-Falih met with U.S. Secretary of State Mike Pompeo in Washington on Thursday to discuss energy security.
The telephone exchange is another sign of how US-Saudi ties have improved under Mr Trump compared with the Obama administration, which alienated the kingdom by seeking a nuclear deal with Iran.
"We will be in uncharted territory". When Trump withdrew and reimposed sanctions, that meant Iranian exports would come under pressure. "While Saudi Arabia has the capacity in theory, it takes time and money to bring these barrels online, up to one year", said Amrita Sen of consultancy Energy Aspects. "Triple-digit oil prices are not off the table", JBC said. Venezuela is in the midst of an economic crisis, which has caused oil production to plummet.
The Opec oil producers' group agreed to increase output, as did Russian Federation, but this failed to reassure markets. The State Department is now insisting that other countries stop importing Iranian oil - or face sanctions from Washington.
Iran's rial currency has lost up to 40 per cent of its value since last month, when Trump pulled out of the 2015 nuclear deal.
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.
Low and his players will return to Germany on Thursday, but with the coach dismissing suggestions that dark times could lie ahead. Germany has conceded goals in its past seven matches and has been vulnerable to counterattacks since the start of the tournament.
Mr Seehofer said last week that Mrs Merkel had two weeks to reach an agreement with her European partners on immigration. With an agreement appearing elusive, Germany says it is now pushing for "bilateral, trilateral and multilateral" deals.
The Lakers brass knows there's an opportunity to be a contender immediately with the potential moves they can make this summer. The Cavs will be among the favorites to reach the NBA Finals if the league's best player chose to stay put for another season.
The thrilling last-16 match was in the balance until Kylian Mbappe popped up with a four-minute double to see off Argentina . Ronaldo has now played in four World Cups and scored a total of seven goals, three of which came against Spain this summer.
Donnelly said he had a "good conversation" with Trump and "will thoroughly review the record and qualifications" of the nominee. Kevin Cramer, R-ND, speaks at the 2018 North Dakota Republican Party Convention in Grand Forks, N.D., April 7, 2018.
Williams had said before the ruling that the idea of the sport changing the way maternity leave is treated is bigger than her. Serena Williams will be seeded No. 25 at Wimbledon for this year's Grand Slam event in London, it was announced Wednesday.
Speaking to the Sydney Morning Herald at the time, the toy store said it was business as usual outside of North America. The photo depicts Geoffrey leaving the empty toy store while holding a suitcase and saying goodbye to the empty shelves.
ROGERS, Ark. - Nasa Hataoka and Minjee Lee each shot a 6-under 65 to share the second-round lead in the NW Arkansas Championship. Casey sank six birdies, along with an eagle on the par four 15th after his tee shot found the green and he sank a 23-foot putt.
The Supreme Court past year said an earlier map relied too heavily on race in fashioning two congressional districts. Circuit Court of Appeals, which ruled that Dassey's conviction was voluntary and thus, his conviction stands.
Two years later, Apple bought headphone maker and streaming-music company Beats for $3 billion, its largest acquisition. Given all of these new features, it's very likely for the pair of new earbuds to cost more than the current $159 model.
The players can listen to the manager - and they should also be able to express themselves about what they do not like from him. Sampaoli is reported to have met with the Argentine FA President Caludio Tapa, who has given the coach his backing.
Democratic Sen. Kirsten Gillibrand calls for end of ICE
In May, ICE conducted a weeklong enforcement operation targeting criminal aliens throughout Philadelphia that resulted 49 arrests. And now a handful of Democratic lawmakers in Congress think it should be eliminated or reorganized to deport fewer immigrants.
Travel ruling could boost other immigration suits
Wade to finally be overturned in one of several battles over pro-life state laws now winding through the legal system. He joined his fellow conservatives in the 2000 ruling that effectively gave the US presidency to Republican George W.