Read the Beforeitsnews.com story here. Advertise at Before It's News here.
Profile image
By Jeffery Pritchett
Contributor profile | More stories
Story Views
Now:
Last hour:
Last 24 hours:
Total:

Trump to Saudi: Lower Oil Prices or We Will Not Defend You (Video)

% of readers think this story is Fact. Add your two cents.


 

If Gulf countries do not increase oil outputs to cover the shortfall left by Iran, America may not defend them, US President Donald Trump has warned in a tweet.

America wants to cut Iran’s oil exports to zero by November. Should it succeed and Tehran’s two million barrels a day be taken off the market, the cost of oil is likely to soar and cause a major headache for Trump domestically; the American public are known to be hostile to anything that increases the cost of filling up their cars.

Trump’s plan is to get the Gulf countries to commit to increase output by over two million barrels per day to offset falling supplies elsewhere. Saudi Arabia agrees with Trump on the importance of keeping prices down but has not committed to increasing output sufficiently. Riyadh has the spare capacity to help meet any additional demand in the market, but has stopped short of saying it will immediately start adding the full two million barrels per day.

Trump, however, seems impatient and wants Gulf allies to play ball. Taking time out from US Independence Day celebrations, Trump sent a strongly worded message to the heads of the Organisation of the Petroleum Exporting Countries (OPEC) in a tweet.

“The OPEC Monopoly must remember that gas prices are up & they are doing little to help,” he wrote. Irritated by what he feels is a lack of cooperation from the Saudis who head OPEC, added: “If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!”

Weather this threat would cower the Saudi’s into doing something they have so far been reluctant to do is yet to be seen. According to the Financial Times, traders and analysts have said that adding the full two million barrels per day requested by Trump would stretch the Kingdom to its limit and leave global spare capacity close to zero, with little buffer should there be further supply outages.

The situation has put Saudi in a precarious position and it’s probably one which the Kingdom has not foreseen having pushed the US to take such a hard line against the Iranians. Trump seems to want to have his cake and eat it; he wants to cut Iran’s oil export to zero and keep the price of gasoline at a moderate level. Analysts however say that he cannot have both; the White House can either drive Iran’s oil exports to zero, or it can have moderate US gasoline prices, but it probably cannot have both.

The Saudi’s meanwhile have said they could produce 12 million barrels per day if necessary but it would require at least six months, with additional drilling and investment required. With the Kingdom’s constant fudging there will remain an awkward tension between the administration’s foreign policy priority (tough Iran sanctions) and its electoral calculation (to keep gasoline prices low).

Source MiddleEastMonitor.com

I host the Church of Mabus radio show and it is going on 8 years. I’ve been in the paranormal community for 20 years. I provide content from a network of sources and guests and allies. Ranging from Politics to the Paranormal and the Spiritual. You can check out my other articles here at my BIOGRAPHY at BIN and you can check out my free radio show at this link HERE. Thanks for showing your support and stopping by.

 

 



Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!


Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST

Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST


Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)

Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen!

Nascent Iodine - Promotes detoxification, mental focus and thyroid health.

Smart Meter Cover -  Reduces Smart Meter radiation by 96%! (See Video).

Report abuse

    Comments

    Your Comments
    Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

    MOST RECENT
    Load more ...

    SignUp

    Login

    Newsletter

    Email this story
    Email this story

    If you really want to ban this commenter, please write down the reason:

    If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.