US President Donald Trump tweeted that he has spoken to Saudi Arabia’s King Salman who has agreed to increase oil production.
The American president said that he explained the Saudi king that there is a need to increase oil production because of the “turmoil and dysfunction in Iran and Venezuela”.
“Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction 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, adding “Prices to high! He has agreed!”
The announcement comes after US had made clear its “zero tolerance” against any country that flouts its diktat to stop buying crude from Iran.
President Donald Trump, last month, withdrew the United States from the landmark Iran nuclear deal and re-imposed US sanctions that had been suspended in return for curbs on Tehran’s nuclear programme.
According to a Reuters report, India’s oil ministry has asked refiners to prepare for a “drastic reduction or zero” imports of oil from Iran November onwards.
The November deadline that the oil ministry has given to its refiners suggests that India might be giving in to the US’ appeal of cutting trade ties with Iran.
Iran is currently India’s third largest supplier of oil.
