'Reduce Pricing Now!': Trump Demands OPEC Cut Oil Prices

[BHarwana]

https://twitter.com/x/status/1014611307427966976

https://twitter.com/x/status/1014611750199496704

US President Donald Trump has demanded that the Organization of Petroleum Exporting Countries do more to stop the surge in global gasoline prices.

"The OPEC Monopoly must remember that gas prices are up and they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $’s. This must be a two way street. REDUCE PRICING NOW!" he tweeted.

Trump said last Saturday he had spoken to Saudi King Salman bin Abdulaziz Al Saud about the need to increase the Saudi oil production "maybe up to 2,000,000 barrels" due to instability in oil-rich Iran and Venezuela. He claimed the Saudi monarch had agreed with the proposal.

However, the clarification that followed from the official Saudi Press Agency (SPA) simply confirmed the call between Trump and King Salman was on "the need to make efforts to maintain the stability of oil markets" without mentioning any pledge in a unilateral output hike from Riyadh. Consequently, the White House toned down the US president’s claim, stating that King Salman confirmed Riyadh’s possession of 2 million barrel per day spare capacity that would be used "if and when necessary" and in coordination with OPEC-non-OPEC allies.



OPEC countries and other major oil producers reached an agreement at the end of 2016 to reduce oil output by 1.8 million barrels per day compared to October 2016. The deal, aimed at boosting oil prices, was prolonged twice, with the last extension set to last until the end of 2018.

Last week, OPEC countries agreed during a meeting in the Austrian capital to increase production to 1 million barrels per day, that is the volume of the countries' overcompliance with the agreement.



https://sputniknews.com/us/201807051066053582-usa-trump-opec-oil-pricing/

 

[BHarwana]

Lol I love this frustration of Trump. hahaha

 

[hazzam]

well well compansate for iran oil .

 

[zip]

Producers deciding the price of goods produced without consumer participation is one form of blackmail especially when goods are of basic nature .What will happen if countries which export agri product forms their own block and start to limit the output to get maximum price ??

 

[BHarwana]

Producers deciding the price of goods produced without consumer participation is one form of blackmail especially when goods are of basic nature .What will happen if countries which export agri product forms their own block and start to limit the output to get maximum price ??

It is basically India which is causing the rise in price. If India keeps buying Iranian oil the price will not rise. India going to other buyers is making the rise in oil prices.

 

[zip]

It is basically India which is causing the rise in price. If India keeps buying Iranian oil the price will not rise. India going to other buyers is making the rise in oil prices.

What %ge of Iranian oil we used to buy ?

 

[hazzam]

It is basically India which is causing the rise in price. If India keeps buying Iranian oil the price will not rise. India going to other buyers is making the rise in oil prices.

not done , we will go with trump .

 

[BHarwana]

What %ge of Iranian oil we used to buy ?

Some thing like 10% of Iranian oil. But rest of production of world oil already has buyers. Currently turkey and china the biggest buyers of Iranian oil are not going to stop buying they have made it clear. it is only India and Japan that will move away. 6th august is when first wave of sanctions kick in and India is already looking for other suppliers. where as china and turkey have not look for other sources.

 

[hazzam]

finally trump will have the last laugh.

 

[BHarwana]

finally trump will have the last laugh.

nope if the production is not boosted by Saudis it will be bad for Trump.

 

[hazzam]

nope if the production is not boosted by Saudis it will be bad for Trump.

trump should manage , why we suffer ?

 

[gangsta_rap]

aaaah

 

[AZADPAKISTAN2009]

 

[zip]

Some thing like 10% of Iranian oil. But rest of production of world oil already has buyers. Currently turkey and china the biggest buyers of Iranian oil are not going to stop buying they have made it clear. it is only India and Japan that will move away. 6th august is when first wave of sanctions kick in and India is already looking for other suppliers. where as china and turkey have not look for other sources.

After globalization every economy is interrelated ..Our policies can have cumulative bad or good effect in this era of globalization ..Time will come when you can't even help yourself due to your past policies .. Nations being responsible for its people first should take worst possible scenario in to account before going with its policies ..India will take it's step after analysing what is best for itself especially when we are not in position of dictating others .

 

[BHarwana]

After globalization every economy is interrelated ..Our policies can have cumulative bad or good effect in this era of globalization ..Time will come when you can't even help yourself due to your past policies .. Nations being responsible for its people first should take worst possible scenario in to account before going with its policies ..India will take it's step after analysing what is best for itself especially when we are not in position of dictating others .

The problem is that if Saudis increase the oil production slowly the price will not come down even if they achieve the desired production. Price will cling to a high stable point. Till now none of the Iranian oil buyers have stopped purchase and yet the oil prices climb. But if few stop the price will pump very high. Japan has shown most willingness and it they really quit. This will become a hell hole. Pakistan is not being sanctioned by USA because we import less from USA but if USA forces every one it will become hell.