WASHINGTON: Top U.S. officials have for now put aside a proposal for an alliance with Saudi Arabia to manage the global oil market, according to three sources with knowledge of the matter, an idea one of them said came from White House national security advisers.
The two other sources said U.S. Secretary of State Mike Pompeo and Energy Secretary Dan Brouillette discussed the alliance idea with President Donald Trump's national security adviser Robert O'Brien, but that nothing was decided. Brouillette, who is close to Pompeo, told Bloomberg TV last week an alliance with Riyadh is one of"many, many ideas" being discussed, but that no decisions have been made.
The United States was for decades the world's largest net importer of petroleum but the shale boom has transformed it into the world’s biggest producer of oil. That has given Trump freedom to take a different approach to the Middle East than predecessors who were more dependent on its oil imports.It is more difficult for the U.S. government to coordinate a production cut with another country because American oil companies are not state owned.
Texas Railroad Commissioner Ryan Sitton said last week he spoke with OPEC Secretary General Mohammad Barkindo about a deal to ensure economic stability, but was not yet advocating for cuts. Saudi Arabia showed no signs of letting up on boosting production to win market share, aiming to export 10.6 million barrels per day because of lower domestic consumption. Saudi Aramco has asked energy service firms to support plans to produce to its maximum capacity of 12 million bpd from April 1"for the foreseeable future", a Saudi oil industry source told Reuters on Tuesday.While Trump administration officials talk gingerly about the relationship with Saudi Arabia, U.S.
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