Saudi oil production rises to record amid Trump push

Saudi oil production rises to record amid Trump push
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Saudi Arabia raised oil production to all-time high levels in November, Reuters reported, as President TrumpDonald John TrumpBiden on Trump's refusal to commit to peaceful transfer of power: 'What country are we in?' Romney: 'Unthinkable and unacceptable' to not commit to peaceful transition of power Two Louisville police officers shot amid Breonna Taylor grand jury protests MORE pushes for lower oil prices.

The Saudis produced just over 11 million barrels of crude oil per day during the month, though the average may fluctuate in the final few days of the month, according to the news service. That's up roughly half a million barrels per day from October.

OPEC members are set to meet on Dec. 6 in Vienna to discuss production rates as Trump has publicly urged the organization not to cut back on output.

Trump has repeatedly criticized OPEC and called on the organization of oil exporters to help lower gas prices.

In June, he again blamed the organization for "artificially" high gas prices, tweeting that "OPEC is at it again." In July, he accused the organization of doing "little to help" rising gas prices. In September, he threatened to end military support for Middle Eastern countries if OPEC did not address oil prices.

On Sunday, the president gave himself credit for lower oil prices, tweeting "thank you President T."


November's increase in Saudi oil production came as an apparent effort to balance the market as the U.S. reimposed sanctions on Iran's oil sector. 

Saudi Energy Minister Khalid Al Falih said earlier this month that members of OPEC could further reduce supply next year to continue to balance the market. 

Trump, Saudi Crown Prince Mohammed bin Salman and other world leaders will gather this week in Argentina for the Group of 20 Summit.

Tensions between the U.S. and Saudi Arabia have spiked in the wake of the killing of Washington Post journalist Jamal Khashoggi, who died after entering the Saudi consulate in Istanbul on Oct. 2. The CIA reportedly concluded that the crown prince ordered his killing.

Trump has drawn criticism for signaling the country, and the crown prince in particular, will not face further punishment for Khashoggi's death. The president has repeatedly pointed to economic ties between the two countries in explaining his decision.