Trump Ordered Saudi Arabia to Exit OPEC with Output Request: Iran

TEHRAN (Shana) -- If Saudi Arabia undertakes Washington’s call to ramp up its crude oil output by 2 million barrels per day, it would be tantamount to calling on the Kingdom to step out of the Organization of the Petroleum Exporting Countries (OPEC), Iran’s OPEC governor Hossein Kazempour Ardebili said.

Reacting to a tweet by US President Donald Trump regarding a request him from Saudi King to boost the kingdom’s oil output to offset high prices in the market, Mr. Ardebili said: “Putting aside the fact that Saudi Arabia has no such capacity to bolster its crude output, this demand could be inferred as an order for the kingdom to walk out of OPEC.” 
“Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference...Prices to high! He has agreed!,” Trump said on Twitter Saturday.
“Members of the Organization of the Petroleum Exporting Countries (OPEC) decided during the group’s 174th meeting in Vienna last week to maintain their previous agreement to cut output by 1.2 mbd and keep the production ceiling at 32.5 mbd and only diminish over-compliance with the agreement and bring it to 100 percent,” said Mr. Ardebilij. 
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