The lack of an immediate response to Trump’s demand adds to speculation about OPEC’s ability to push oil down from $80 a barrel.
OPEC and its allies are pumping half a million barrels a day below the target they set two months ago.
Iranian Letter Reaffirms OPEC Divisions
While the move will further delay the IPO, it does not mean the planned share sale is formally canceled.
Saudi Aramco's Crude Output in 2017 Fell From Annual Record
Saudi Arabia pumped near-record crude oil volumes to meet demand.
OPEC Producer Taps Banks for $1.1 Billion Loan in Shale Push
Saudi Aramco CEO Says Deal for Sabic Would Affect IPO Timeline
Aramco-Sabic Deal Would Funnel Billions to Saudi Sovereign Fund
Trump asked Saudi Arabia to increase oil production by as much as 2 million barrels a day due to high prices.
Saudi Arabia Is Said to Plan Record Crude Oil Production in July
OPEC has reached an agreement in principle to boost oil production, achieving a last-minute compromise.
OPEC Meets Its Allies in Vienna for Approval of Oil-Supply Hike
Russia-Saudi Plans for Super-OPEC Could Reshape Global Oil Order
Brent crude last month surged to a more than three-year high above $80 a barrel.
OPEC Counts Down to Pivotal Meeting as Saudis Pledge More Supply
Iranian Minister Bijan Namdar Zanganeh said he was optimistic about the outcome of the OPEC meeting now.
Proposal involves a complex calculation based on how much the group has cut production beyond the initial target.
OPEC Works Toward Oil Deal as Iran Sounds More Conciliatory
Iran publicly rejected the idea of a formal output increase.