Trump Indirectly Threatens Saudi Arabia Over ‘OPEC Monopoly’

Published July 5th, 2018 - 01:24 GMT
US President Donald Trump and Saudi Arabia's King Salman during Trump's first overseas presidential trip, in May 2017. (AFP/File Photo)
US President Donald Trump and Saudi Arabia's King Salman during Trump's first overseas presidential trip, in May 2017. (AFP/File Photo)

On his Twitter, US President Donald Trump demanded the world's leading oil producing countries of OPEC to increase their oil production to stabilize oil markets with more supply as global energy prices are on the rise.

Trump accused the Organization of the Petroleum Exporting Countries of a price “monopoly” as they are “doing little” to help ease the prices increase. Trump points out the US defends OPEC members for a “very little” amount of money.

Trump’s efforts to contain spiking oil prices came amid piling pressure on the President ahead of November midterm congressional elections, in which he has to prove claims that tax cuts and federal regulations helped in boosting the economy.

Trump's indirect threats for countries defended by the US have been interpreted as addressing Saudi Arabia, the biggest member in OPEC, who was keen on advancing relations with the US since Trump entered the White House.

Earlier remarks made last week by Trump on reaching an agreement with the Saudi King Salman to increase oil output by up to 2 million barrels to make up the falling output in Venezuela and Iran.

Later on, Saudi Arabia state-run news agency reported the call and mentioned no production target was agreed on, in contrary to what Trump tweeted. Saudi Arabia expressed its readiness to “compensate for any potential shortage of supplies”.

Trump’s tweet had launched a debate among Americans on social media. While many praised the president’s bravery in threatening OPEC countries on oil prices.

Others mocked his obvious contradiction in the last two tweets he posted on OPEC and oil prices.

The Kuwaiti professor, Abdullah AlShayji tweeted a couple of old tweets were posted by Trump back in 2012 while attacking former President Barack Obama over the increase in oil prices that took place that time.

Translation: “Let us remind Trump of his tweets in 2012, when he was a real estate and businessman who is doubting Obama’s nationality. He tweeted blaming Obama of the increase in oil prices saying he [Obama] could stop it! He demanded ousting Obama! But Obama never attacked OPEC or rebuked it on public! And today, oil price per gallon reached 3$.”

In fact, increasing prices of oil crisis was originally triggered by the US after pulling out of the nuclear deal between Tehran and the world powers, in addition to pressure piled by US on its allies to stop purchases of oil from Iran. In addition to the unrest in Venezuela and fighting in Libya that had as well affected the oil production around the world.

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