White House softens Trump's Saudi oil Twitter claim

[DonViejo]

Ben Geman 25 mins ago

The White House clarified President Trump's Twitter claim that Saudi Arabia had pledged to increase its oil production by as much as two million barrels per day.

Why it matters: Taken at face value, Trump's early morning tweet on Saturday suggested that OPEC's dominant producer was ready boost production even beyond last month's agreement with other cartel members and Russia.

But late last night, White House Press Secretary Sarah Sanders issued a readout of Trump's conversation with King Salman that backs off the claim, stating instead:

"In response to the President’s assessment of a deficit in the oil market, King Salman affirmed that the Kingdom maintains a two million barrel per day spare capacity, which it will prudently use if and when necessary to ensure market balance and stability, and in coordination with its producer partners, to respond to any eventuality."

Between the lines: That summary is consistent with prior statements by Saudi officials that they stand ready to respond to the demands of the tightened oil market.

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https://www.axios.com/trump-tweets-saudi-arabia-oil-production-king-salman-b122a500-83a8-4c9a-a9d4-0ec49554e550.html

[still_one]

1. More like, "WH corrects the loud mouth's LIES again"

[Freethinker65]

2. Trump's demands fail again. NO CHANGE in oil output will occur.

[Wellstone ruled]

3. All right,

let's get real here. People in the White House are scared shitless about the price of Oil. Pay attention,the retail price of Gas and Diesel is hurting the Rethugs Election wise my friends and they know it.

Bloomberg Market Reporting only mentions this on their over night programming. Kroger Stores announced price increase that go into effect today. Reason,cost of Transportation. Target Stores did likewise as of today.

This is a Pocket Book issues and falls right in our Wheel House. Let's see what happens. BTW,the Iranians made mention of this same in a Guardian Piece late Friday or yesterday and they are doing a work around to sell their Oil via a method of using Personal Sales in order to get around Sanctions Imposed by Bolton and Trump.

Remember drill baby drill. That was the Rethugs spin on blaming we Dems for the high price of Gas back as far as 2010,and again in 2012 which cost us both the House and Senate. Of course a healthy dose of Racism thrown in for good measure.

Plus,we are now one of the World's largest exporters of Crude Oil. And Trump wants his Buddy Vald to
join in the gravy train.