I told Saudi king he wouldn't last without US support

I told Saudi king he wouldn't last without US support

I told Saudi king he wouldn't last without US support

Trump and King Salman last shared a reported telephone call on Saturday, discussing global crude oil prices amid the American leader's call for OPEC to bring down energy prices.

U.S. sanctions on Iran's petroleum sector are set to take effect next month after U.S. President Donald Trump withdrew from the Iran nuclear deal in May. If the White House was informed about the secret private deal, it didn't seem to resolve Trump's concerns. I said, king, you have got trillions of dollars. Saudi Arabia now produces some 10 million barrels of crude oil a day.

The call grabbed the attention of oil traders and hedge funds, who are watching closely for any signs that the US might take action against Saudi Arabia or other members of OPEC after Trump used his address at the United Nations General Assembly in NY on September 25 to hammer home those views.

In addition to lowering oil prices, Trump has called on close USA allies to shoulder more of the cost of defense spending, but Tuesday warning marked the most serious criticism of Riyadh.

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The climb in oil prices comes even as Saudi Arabia reported, according to Reuters, that its oil production is near a record.

Driving oil higher is a supply pinch as Iranian oil buyers like South Korea and India have started to scale back purchases ahead of the implementation of US sanctions against Iran despite some sentiment that the sanctions won't stick. There is also an American military presence in the UAE, Iraq, Jordan, and Oman, which can rush to help Saudi Arabia at a moment's notice. "I would expect Russia's oil production will hover at around 11.4 to 11.6 million bpd until the end of 2018 and may increase further to 11.8 million bpd later on in 2019", a source at a major Russian oil company told Reuters. "You have to pay for your military'".

Oil prices have risen in recent weeks ahead of United States sanctions on Iran - set to be imposed early next month. Trump said. "I love the king, King Salman, but I said, 'King, we're protecting you". Would you say they are rich?

There was no immediate reaction Wednesday in Saudi Arabia to Mr. Trump's remarks.

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