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Trump beats OPEC on Twitter over gas prices, says Kartell is "little to help"



President Trump sharply criticized the OPEC oil cartel on Wednesday and said it "does little to help" high gas prices in the US

"If anything, they push up prices as the US defends many To their members for very little $, Trump claimed, "That must be a one-way street. REDUCE PRICES NOW! "

Last month, OPEC's 15 member states agreed to pump one million barrels of crude a day, which should stem the recent rise in global energy prices, but US gas prices were barely noticeable.

Wednesday's average gas price was $ 2.86 a gallon, the highest in four years, but the organization said it was 1

1 cents cheaper than the average price on Memorial Day.

Over the weekend, Trump said he had King Salman of Saudi Arabia received assurances that the kingdom would increase oil production by "perhaps up to 2,000,000 barrels." Saudi Arabia acknowledged that the call took place but did not mention any production targets.

Government has urged US allies to stop all oil purchases from Iran after President America withdrew from the nuclear deal in May 2015 n 2015 brought out. The prices in Venezuela and the fighting in Libya for control of the local oil infrastructure have also increased.

The government has relied on Saudi Arabia and the other OPEC members to supply enough oil to compensate for lost Iranian exports and prevent oil prices are rising sharply.

On Wednesday, the price of Brent crude was $ 78.16 a barrel, while benchmark crude stood at $ 74.14

  FILE PHOTO: US President Donald Trump shakes hands with Saudi Crown Prince Mohammed Bin Salman in the Oval Office at the White House in Washington, USA March 20, 2018. REUTERS / Jonathan Ernst / Archiv photo - RC15FBCC8C60

President Trump shakes hands with Saudi crown prince Mohammed bin Salman in the White House in March

(AP)

Saudi Arabia currently produces around 10 million barrels of crude a day. His record is 10.72 million barrels a day. Trump's tweet offered no time frame for the additional 2 million barrels – whether that meant a day or a month. However, Saudi Aramco CEO Amin Nasser told journalists in India on Monday that the state-owned oil company has a capacity of 2 million barrels of oil a day

. That was after Saudi energy minister Khalid al-Falih said the kingdom would respect OPEC's decision to raise to a one-million-barrel.

"Saudi Arabia, of course, can deliver as much as the market needs, but we are He will respect the 1 million bar cap – while making sure that part of it is allocated to the countries that deliver it "said al-Falih.

The government has threatened close allies such as the South with sanctions if they do not cut off Iranian imports by the beginning of November. According to the US Department of Energy, South Korea accounts for 14 percent of Iran's oil exports.

At 24 percent, China is the largest importer of Iranian oil, followed by India with 18 percent. Turkey stood at 9 percent and Italy at 7 percent.

The Foreign Ministry has stated that it expects the "vast majority" of countries to meet the US demand.

The Associated Press has contributed to this report. 19659018]
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