Saudi Arabia would not last 2 weeks without US
- Author: Tracy Klein Oct 04, 2018,
Oct 04, 2018, 5:59
"I love the king, King Salman, but I said, 'King, we're protecting you, '" Trump says at a campaign rally in MS, without elaborating on when he spoke to King Salman bin Abdulaziz. While the kingdom's ties with the USA have improved under Trump, Tuesday's remarks were unusually harsh and appeared to question the stability of a monarchy in power since the 1930s.
"If Iran is under sanctions, the price of oil would rise and Russian Federation and Saudi Arabia can not do anything to supply additional oil to the market", Iran's OPEC governor Hossein Kazempour Ardebili was quoted as saying by SHANA, the oil ministry's news agency. Since the kingdom rebuffed his calls last month for a rapid production increase to offset the impact of sanctions on Iran, the president has amplified his rhetoric.
Trump criticized oil producers in his speech before the U.N. General Assembly last week. However, analysts are warning prices could go up to $100 a barrel as the world's production is already stretched and Mr. Trump's sanctions on Iran's oil industry take effect in early November.
Trump has pressured OPEC to lower crude oil prices as the cost recently increased above $80 per for Brent.
Saudi energy minister Khalid al-Falih said the country had raised output to 10.7m barrels per day in October and announced a further production hike in November.
The average cost of a gallon (3.78 litres) of petrol in the United States was $3 in May, according to AP.
Qatar has denied the allegations.
He further added, "we defend many of these nations for nothing, and then they take advantage of us by giving us high oil prices". And I love the King, King Salman.
The Trump administration has had a close relationship with Saudi Arabia. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World. Time and again, he has urged North Atlantic Treaty Organisation nations to contribute to the overall maintenance of the alliance, which is heavily dependent on U.S. military and industrial spending.