Trump says Saudi King wouldn't last two weeks without U.S. support

Trump says Saudi King wouldn't last two weeks without U.S. support

Trump says Saudi King wouldn't last two weeks without U.S. support

Saudi Arabia was the USA leader's first stop during his first global tour as president a year ago.

Trump did not say when he made those remarks to the Saudi monarch, but they come amid increasing oil prices in the US.

US crude inventories rose by 907,000 barrels in the week to September 28, to 400.9 million barrels, the American Petroleum Institute said Tuesday, ahead of Wednesday's official supply report from the US Energy Information Administration due at 1430 GMT.

President Donald Trump said the king of Saudi Arabia may not last two weeks without USA support, escalating pressure on one of his closest Arab allies to curb rising oil prices and pay for military protection. "You have to pay for your military", Trump told a campaign rally in Southaven. "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.

Sources told Reuters earlier on Wednesday that Russian Federation and Saudi Arabia had informed the United States of their private deal to raise supply before a meeting in Algeria with other producers.

The price of USA crude oil has increased sharply ahead of U.S. sanctions on Iran and on concerns about Venezuelan output but further strong gains in the immediate future seem unlikely. A barrel of oil now costs about $75, continuing a steady increase over the past year. "We defend many of these nations for nothing, and then they take advantage of us by giving us high oil prices".

US crude inventories jumped 8 million barrels last week, quadruple analysts' expectations and the biggest build since March 2017, the Energy Information Administration said.

He has also pressed other U.S. allies, such as Japan, South Korea and Germany, to take more of the financial burden of their defense. "We want them to start lowering prices and they must contribute substantially to military protection from now on".

Saudi Arabia is the world's top oil exporter and the de facto leader of OPEC, which has been criticised by Trump for high oil prices.

Trump criticized oil producers in his speech before the U.N. General Assembly last week.

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