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Trump says OPEC "has to" pump more oil

President Trump with King Salman in Saudi Arabia last year. Photo: Mandel Ngan/AFP/Getty Images

In an interview on Fox today, President Trump appeared to change his claim that Saudi Arabia had committed to pumping an additional 2 million barrels of oil a day, saying instead that OPEC countries "are going to have to put out more oil."

Why it matters: Resurrected U.S. sanctions on Iran will reduce OPEC supply to the market, and are already pushing up prices. In a tweet yesterday, Trump asserted that he had persuaded Saudi King Salman to raise production, but last evening, the White House said it was more like Salman agreed only to meet global demand. The new interview with Maria Bartiromo suggests that any commitment in the conversation may have been even vaguer.