On November 21, 2018, US President Donald Trump thanked Saudi Arabia for helping push oil prices lower, even as he stood by the kingdom a day after publicly defending continued US support despite the killing of journalist Jamal Khashoggi.
Trump posted on Twitter that falling prices were “Great! Like a big Tax Cut for America and the World,” adding: “Oil prices getting lower. Great! Like a big Tax Cut for America and the World. Enjoy! $54, was just $82,” he tweeted. “Thank you to Saudi Arabia, but let's go lower!”
The comments followed his remarks at the White House on Tuesday, when he said the United States would not sever ties with Riyadh because higher oil prices could follow. “If we broke with them, I think your oil prices would go through the roof. I've kept them down,” he told reporters.
He added: “They've helped me keep them down. Right now we have low oil prices, or relatively.”
Oil prices recovered slightly on Wednesday after dropping by more than six percent, with traders worried that Saudi Arabia might not follow through on planned production cuts. Trump’s support for Riyadh was also seen by some observers as an effort to influence the kingdom ahead of the December meeting of OPEC and non-OPEC members.
The backdrop to the dispute was the killing of Khashoggi, a US resident and Washington Post columnist who disappeared after entering the Saudi consulate in Istanbul on October 2. His death badly damaged Washington’s standing and undercut the crown prince’s attempt to present Saudi Arabia as a reforming state.
In an earlier statement on Tuesday, Trump said: “The United States intends to remain a steadfast partner of Saudi Arabia to ensure the interests of our country, Israel and all other partners in the region.”
