DONALD TRUMP’S PHONE CALL WITH SAUDI KING ABOUT INCREASE IN OIL PRODUCTION




Mustafa AY – TDO – 02.07.2018 On Saturday, US President Donald Trump shared an information on his Twitter account. According to his Twitter message, he and Saudi King Salman made a phone call and made King Salman a proposal to increase Saudi Arabia’ oil production to 2 million barrels. King Salman accepted his proposal, said President Trump. He stated that political and economic instability in Iran and Venezuela necessitate increase in oil production. As known, Venezuela lapsed into political crisis and economic recession stemming from OECD’s decision on dropping oil prices from 100 dollars to 45-50 dollars in 2015. Besides Venezeuela, USA’s withdrawal from Nuclear Accord with Iran re-ignited political conflict amidst Iran and USA. Owing to abovementioned reasons, Iran and Venezeuela as two of World’s main oil exporters couldn’t manage to supply oil to market. This triggered increase in oil prices from 45-50 dollars to almost 80 dollars by 2018. Back to mmain issue, although Riyadh confirmed King Salman’s phone call with President Trump, has’n confirmed so-called agreement over increase in oil production. So, President Trump’s remarks on agreement through Twitter is perceived as an attempt to apply politique de faite accomplie to Saudi Arabia.