came after hawkish economic and security advisors allayed the president's fears of an oil price hike, according to three sources familiar with the internal debate.
The United States currently removes about 2 million barrels of oil per day from the world's supply through sanctions on the Iran and Venezuela industries. But Washington hopes that soaring U.S. oil production - now at an all-time high of more than 12 million barrels per day - will keep global markets well-supplied and hold prices down.
Trump discussed the matter with Bolton, Treasury Secretary Steve Mnuchin, Energy Secretary Rick Perry as well as Secretary of State Mike Pompeo. Separately, diplomats interviewed by Reuters from at least two large importers of Iranian oil said discussions about renewing their waivers continued until a few days before the announcement, suggesting the State Department had little time to brief partners on the decision.Trump has long been anxious that rising oil prices could hurt the economy and raise retail gasoline prices, and in his last tweet before the waiver decision, he said global oil markets were"fragile".
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