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


"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.

The climb in oil prices comes even as Saudi Arabia reported, according to Reuters, that its oil production is near a record.

Oil traded below a four-year high on Wednesday as top exporter Saudi Arabia said it increased output to near a record high and after Reuters reported that Russian Federation and Saudi Arabia had struck a private deal in September to pump more.

Trump added that he had spoken to Saudi Arabia's King Salman on Saturday to make the same point, the AFP news agency reported.

No further developments have surfaced from the Kuwait meeting but media reports said the Gulf crisis was also on the agenda of the talks.

Just a few days after the Algiers meeting, Trump blamed OPEC for high oil prices at the UN General Assembly in NY.

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Despite the harsh words, the Trump administration has had a close relationship with Saudi Arabia, which it views as a bulwark against Iran's ambitions in the region.

Saudi Arabia has always been a major buyer of USA weaponry, spending billions of dollars on advanced systems, a point Trump was keen to make when Saudi Crown Prince Mohammed Bin Salman visited the White House in March.

Qatar has denied the allegations.

Saudi Energy Minister Khalid al-Falih said on Wednesday the kingdom had raised output to 10.7 million barrels per day in October.

The US crude oil price is pausing for breath after its strong advance ahead of US sanctions on Iran, which take effect on November 4.

Qatar hosts the largest U.S. military base in the region. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World. South Korea and Japan also have the United States to thank for stability in the Asian region, according to Trump, who previously demanded increased payments from U.S. allies to keep American bases in their countries.