Trump says he's spoken to Saudi Arabia about increasing oil flow

Trump says he's spoken to Saudi Arabia about increasing oil flow

The sting of the Trump administration's decision not to re-issue waivers on Iran oil sanctions faded on Friday with crude prices dropping more than 3% following comments from the United States president.

The recent steps against Venezuela and Iran seem to help Washington by supporting the cost effectiveness of the USA oil industry, especially the country's shale oil, according to Denis Lisitsin, Aerarium Group's asset management director. He calls it as a long-arm jurisdiction that has been imposed by the USA on Iran. Saudi Oil Minister Khalid al-Falih stated that Riyadh was committed to "stabilise" the oil market.

Saudi Arabia, the world's top crude exporter, has also said it had no immediate plans to raise oil output after the sanctions waivers end.

Maurizio Sarri Wary of Manchester United Bounceback Desire
Hasselbaink (1999, 2001) and Ivorian Didier Drogba (2007, 2010) are the only two Chelsea strikers to top the league's scoring charts in the last 20 years.

Earlier on Friday, Trump told reporters he had "called up" OPEC and urged the producer group to take action to bring down fuel costs. "This decision is meant to bring Iran's exports to zero, denying the regime its principal source of income". Trump's statement is thus being seen as a short-term relief for the oil market.

However, waivers were granted to eight main buyers of Iranian crude - India, China, Greece, Italy, South Korea, Japan, Turkey and Taiwan. The waivers allowed those countries to purchase reduced volumes of Iranian crude with the understanding that the levels should drop over the course of the 180 days for any extension to be considered.

Any wind-down measures would be different than the 180-day exceptions the Trump administration granted in November to China and seven other importers for significantly reducing oil purchases from Iran, measures set to end in May.

President Trump met with Twitter CEO at the White House
The meeting came hours after Mr Trump again attacked the social media company over his claims it was biased against conservatives. However, shortly after the meeting ended, Trump tweeted a photo and expressed a more positive tone from his earlier complaints.

The Trump administration is using current oil market conditions to rationalise eliminating the waivers.

He further rejected the Saudi and Emirati officials' claims of making up for Iran's lost oil in the global market and said, "I believe they are overstating their oil capacities".

The sanctions have taken a hard bite into Iran's economy: Tehran's crude exports have fallen from highs of 2.6 million-2.7 million barrels per day (bpd) to around 1 million bpd. Iran has not responded to the announcement made on the sanction waiver. "Spoke to Saudi Arabia and others about increasing oil flow".

Details begin to emerge of 'well-educated' suspects in Sri Lanka bombings
An Australian white supremacist, Brenton Harrison Tarrant, was arrested in the Christchurch shootings. But officials are still unclear how much of a role ISIS actually played, beyond inspiring the attack.

A significant number of local tourist trips also adds to the upbeat forecast for the country's tourism sector, with the number of domestic tourists exceeding 47 million in 2018, which Colliers said will increase to 70.5 million by 2023.

Related News:

Most liked

Trump distills his take on Mueller report to ‘No C or O!’
Not surprisingly, the biggest block of those who say they are more likely to oppose Trump for re-election is among Democrats. His oldest son, Donald Trump Jr ., declined to be voluntarily interviewed by investigators, according to Mueller's report .

Google Assistant to read stories to your baby
Heart Points are awarded for more intense sessions of physical activity and when you're really getting that heart pumping. "Now, we're bringing the Google Fit app to more people-starting today, it's available to download on iOS ".

Kim Jong Un leaves Vladivostok after summit with Putin
Kim on Friday also appeared for a wreath-laying ceremony at a World War II memorial to Russia's Pacific Fleet in Vladivostok . Solemn music played as he stood, hat in hand wearing a black double-breasted waistcoat.

European Union slams Russian Federation citizenship move as new attack on Ukraine
The conflict between the Ukrainian government and breakaway rebels began after Moscow annexed Kiev's Crimea peninsula in 2014. DiCarlo, calling for a withdrawal of heavy weapons, disengagement of forces and more protection in the east, for civilians.

Raptors' Nick Nurse sees Kawhi's playoffs beast mode as 'contagious'
The Raptors were 3-1 against the Sixers during the regular-season series, winning both games at home and one of two on the road. However, while the Raptors had a good game on the offensive side of the court, they were even better on the defensive side.

National Basketball Association playoffs wrap 2019: Rockets close out Jazz
Clippers defeated the Warriors 129-121 to grab their second win in the series, making it 3-2. Curry added: "It's one of those nights that we've got to erase from our memory quick".

National Football League draft: Biggest surprises of the 1st round
NY sent three picks to Seattle, a second rounder (No. 37), a fourth rounder (No. 132) and a fifth rounder (No. 142). Jones said he needs to improve his understanding of when to throw the ball away or dump it off to a back.

Grading the Broncos' selection of Noah Fant in the National Football League draft
Chris Hogan signed with the Panthers in free agency, leaving Brady with Phillip Dorsett as his No. 2 receiver behind Edelman. What channels do you watch for the 2019 NFL Draft? The most recent sports headlines delivered to your inbox every morning.

Amazon pulls in a record $5.4 billion profit
Still, Amazon said Thursday that it expects to spend $800 million in this year's second quarter to speed up deliveries. In response to our inquiry about closures of some fulfillment centers, an Amazon spokesperson provided no details.

New cyclone set to make landfall in northern Mozambique
Accuweather says that prior to reaching the eastern Africa coastline, the cyclone brought heavy rainfall to parts of Madagascar. A child is transported on a fridge during floods after Cyclone Idai, in Buzi, outside Beira, Mozambique on March 21.

Vladimir Putin and Kim Jong-un pledge stronger ties in Vladivostok
North Korea has demanded an easing of sanctions and Trump has indicated sympathy, saying he is fond of Kim. With Putin's own economy hurting, it isn't clear that North Korea is a priority.

1hr limit on screen time for toddlers
Screen time is not recommended for 1-year-olds, and the guidelines recommend that it be limited to one hour a day for 2-year-olds. Infants under one should interact in floor-based play - or "tummy time " - for at least an hour each day and avoid all screens.

James Milner: I want Manchester United to beat Manchester City
Klopp said that if you are motivated just to win the Holy Grail, there is something wrong. "I don't want Liverpool to win the league".

Game of Thrones Season 8 Episode 3 leak making fans anxious
Here's every little nugget we picked up on in the episode-we know you'll let us know in the comments if we missed any. We also get an image of Sansa and Arya Stark seeming to confer atop the castle fortifications.

‘Bond 25’ cast revealed: Rami Malek to play villain
He had kind words for Sean Connery, the original Bond , and Javier Bardem, who played Bond's nemesis in " Skyfall ". While nothing official was announced about who Malek will be playing, we're fairly certain that he'll be a villain.