Trump may get on with investigation into OPEC being monopoly
Baku, Azerbaijan, Nov.21
By Leman Zeynalova – Trend:
The US is not likely to block the oil import from Saudi Arabia under Donald Trump’s presidency, Charles Ellinas, oil market expert, executive president at Cyprus National Hydrocarbons Company (CNHC) told Trend Nov.21.
“I do not think Trump will block Saudi oil exports, but he may let Congress get on with investigating OPEC being a monopoly,” said the expert.
Ellinas believes that Trump will ease building new pipelines, especially Keystone from Canada, and this may reduce the need for oil imports.
Earlier, the president-elect of the US Donald Trump said that the US needs to block all oil imports from Saudi Arabia.
During his campaign, Trump vowed to secure US energy independence from “our foes and the oil cartels,” while also creating “complete American energy independence.”
However, later, Saudi Arabia’s oil minister Khalid Al-Falih said that “at his heart President-elect Trump will see the benefits [of Saudi oil imports] and I think the oil industry will also be advising him accordingly that blocking trade in any product is not healthy.”