General view of Saudi Aramco's Ras Tanura oil refinery and oil terminal in Saudi Arabia May 21, 2018. REUTERS/Ahmed Jadallah/File Photo
Reuters: Saudi Arabia pumps record amount of oil as Trump piles on pressure
DHAHRAN, Saudi Arabia (Reuters) - Saudi Arabia raised oil production to an all-time high in November, an industry source said on Monday, as U.S. President Donald Trump piled pressure on the kingdom to refrain from production cuts at an OPEC meeting next week.
The meeting, at which OPEC members will consider how to arrest a decline in oil prices, comes days after leaders of top global oil producers - Russian President Vladimir Putin, Saudi Crown Prince Mohammed bin Salman and Trump - travel to Argentina for a G20 summit this week.
Saudi Arabia agreed to raise supply steeply in June, in response to calls from consumers, including the United States and India, to help cool oil prices and address a supply shortage after Washington imposed sanctions on Iran.
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WNU Editor: This is rare. Reuters is giving credit to President Trump.
1 comment:
Trump isn't a photo-op President like Obama. He is transactional at the state to state level. Work with him on his priorities and he'll work with MbS on his priorities.
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