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Key Words: Iran official says Trump request for Saudi Arabia to lift oil output is tantamount to ‘walking out from OPEC’

‘We are 15 countries in an agreement. Set aside that they do not have the capacity, there is no way one country could go 2 million b/d above their production allocation unless they are walking out of OPEC,’ says

—Hossein Kazempour Ardebili

That was Iran’s OPEC governor, Hossein Kazempour Ardebili’s response to reports that President Donald Trump asked Saudia Arabia to boost oil production by 2 million barrels a day, according to Bloomberg on Saturday.

Earlier in the day, Trump took to Twitter to claim that King Salman of Saudi Arabia had agreed to boost oil output in order to tamp down a rapid rise in crude -oil futures.

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