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

Trump: Saudi King wouldn't last 'two weeks' without US support

Trump did not say when he made those remarks to the Saudi monarch.

Brent crude rose almost 2 percent after hitting a four-year high on Wednesday as the market focused on upcoming USA sanctions on Iran while shrugging off the year's largest weekly build in US crude stockpiles and reports of higher Saudi Arabian and Russian production.

The US military was stationed in Saudi Arabia from the first Gulf War against Iraq in 1990 to 2003, when then Secretary of Defense Donald Rumsfeld announced pullout.

President Donald Trump said the king of Saudi Arabia may not last two weeks without US support, escalating pressure on one of his closest Arab allies to curb rising oil prices and pay for military protection. Trump told a campaign rally in the USA state of MS on Tuesday night. "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.

Benchmark Brent crude oil is near $85 a barrel - a four-year high - and analysts say it could reach $100 as United States sanctions on Iran resume in November.

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Trump did not elaborate further on the conversation but appeared to be referring to a telephone call he had on Saturday with King Salman bin Abdulaziz.

Kazempour Ardebili, Iran's representative on OPEC's board of governors, said that USA sanctions on Iranian oil were "impossible", and called on Trump to return to the nuclear deal with Tehran. The price per barrel was around $50 in October 2017. That is up sharply from the 10.4 mb/d it produced in August, and the increase offers some evidence to back up the story that Saudi Arabia and Russian Federation agreed to boost output weeks ago, and may have told American officials about it. Al-Falih also said that production would be "slightly higher" in November compared to October levels.

The climb in oil prices comes even as Saudi Arabia reported, according to Reuters, that its oil production is near a record. Not good. We want them to stop raising prices.

"They'll pay us. The problem is nobody ever asks".

Saudi Arabia is the world's top oil exporter and the de facto leader of OPEC.

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