Iran says Saudi Arabia, Russia violated OPEC deal on output cuts

Trump told Saudi King he wouldn’t last ‘2 weeks’ without US support

Saudi Crown Prince Mohammed bin Salman traveled to Kuwait last weekend to speak with Kuwaiti Emir Sheikh Sabah al-Ahmad al-Jaber al-Sabah, reportedly about increasing oil production.

Brent crude oil was trading at $84.65 (£65.09) per barrel this afternoon, having dropped from a high of $85.33 earlier in the day and near the four-year high it reached on Monday. "You have to pay for your military, you have to pay.'" Whether or not he actually said this to the King is questionable, but the fact that he appears to be insulting the Saudi monarchy in public offers more evidence that he wants them to lower oil prices from today's highs. Mr. Trump and King Salman last shared a reported telephone call on Saturday, in which they discussed "efforts to maintain supplies to ensure the stability of the oil market and ensure the growth of the global economy", according to the state-run Saudi Press Agency.

Saudi Arabia is the world's top oil exporter and the de facto leader of OPEC, which has been criticised by Trump for high oil prices. "You have to pay for your military, you have to pay'". "I love the king, King Salman, but I said, 'King, we're protecting you".

Saudi Arabia welcomed Mr. Trump for his first overseas trip as president.

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On Monday, his lawyer Barbara "Biz" Van Gelder said he had been interviewed "but his interview has not been completed". Heitkamp, meanwhile, noted that Trump himself called for a "broader" FBI investigation into the allegations.

Washington wants to cut Iran's oil exports to zero by November, and is encouraging producers such as Saudi Arabia, other OPEC members and Russian Federation to pump more to meet the shortfall.

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 USA sanctions against Iran despite some sentiment that the sanctions won't stick.

The call grabbed the attention of oil traders and hedge funds, who are watching closely for any signs that the USA 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. It was around $50 (€43) a year ago.

Trump criticized oil producers in his speech before the U.N. General Assembly last week. "We defend many of these nations for nothing, and then they take advantage of us by giving us high oil prices". Not good. We want them to stop raising prices.

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