Tag Archives: Donald Trump

The kingdom is considering slashing oil production by up to 1.4 million barrels per day (bpd) with OPEC members.

US President Donald Trump has repeatedly blamed OPEC for rising oil prices.

OPEC and 10 non-OPEC partners. led by Russia. will meet December 6-7 to decide on output policy.

Iran is OPEC’s third-largest producer. providing more than 2 percent of global oil output.

The Russian parliamentarians already announced that Moscow will continue fulfilling its commitments with Syria.

Saudi Arabia and its allies are now considering cutting output by 1 million to 1.4 million barrels per day.

As oil prices have headed south. Saudi Arabia said it would cut exports by 500.000 bopd next month.

Reduced Saudi oil imports tend to reflect in lower weekly U.S. inventories.

The United States has been increasingly critical of China-backed infrastructure projects.

The Saudi tactic to send reduced volumes to the States succeeded last year.