U.S. Secretary of State Mike Pompeo

US to ensure adequate oil supplies in global market

April 30, 2019

US Secretary of State Mike Pompeo said that the US would seek to stabilise global oil market after Washington’s decision not to extend sanctions waivers for Iran oil purchase…reports Asian Lite News

U.S. Secretary of State Mike Pompeo

“We are convinced we can make sure the markets are adequately supplied. We are continuing to work on that,” Xinhua quoted Pompeo as saying to the audience during an event by The Hill news outlet.

The US would cooperate with other alternative suppliers home and abroad on the matter, he added.

The Trump administration announced on April 22 that the US sanctions would be reimposed on all countries that import Iranian oil since May 2, leading to turbulence in global oil markets.

US President Donald Trump urged the Organization of the Petroleum Exporting Countries (OPEC) and top oil supplier Saudi Arabia to lower oil price on Friday.

“Gasoline prices are coming down. I called up OPEC, I said you’ve got to bring them down. You’ve got to bring them down,” Trump told reporters Friday en route to an event in Indianapolis, according to local media.

Analysts noted that Trump’s previous effort to push gasoline prices down had been followed by fresh price highs, according to a Reuters report.

Washington in November snapped back sanctions on Tehran’s banking, energy and shipping industries while granting 180-day waivers to eight of Iran’s major oil buyers in order to stabilise the global energy market.

Previous Story

UN calls for global effort against racism, xenophobia

Next Story

Dell Technologies, Microsoft expand Cloud partnership

Latest from ASIA NEWS

Hamas Frees Captives

The Israeli Air Force announced that it has completed its preparations to receive hostages returning from Gaza to Israel….reports Asian Lite News

Fragile Peace Returns to Gaza

Carrying bags, blankets, and a few salvaged belongings, families walked through the dusty highway under the afternoon sun. Many pushed carts or

Arab nations welcome Gaza deal

The Arab nations have welcomed the first phase of the Gaza ceasefire, urging immediate implementation, humanitarian aid, and renewed political dialogue to