Trump cheers Saudi oil price cut as crude slides to rare discount
Trump points to falling oil prices as Saudi Aramco slashes its main crude grade by $11 a barrel, selling to Asian buyers at a discount for the first time since its 2020 price war.
WHITE HOUSE — Donald Trump celebrated falling oil prices, pointing to a rare Saudi discount, by mentioning the source (see bloomberg) on truthsocial on July 6, 2026 at 2:00 PM EST.
Here is the full post on truthsocial: “OIL PRICES COMING DOWN! Bloomberg. Saudis Slash Main Oil Price to Rare Discount as Market Dives. By Yongchang Chin, Alfred Cang, and Anthony Di Paola. July 6, 2026. Saudi Arabia made big reductions to its main crude oil prices for buyers in Asia, selling barrels at a discount for the first time since it embarked on a price war in 2020, as a surge of global supply heightens competition to find buyers. State producer Saudi Aramco will lower Arab Light oil for next month by $11 a barrel to a $1.50 discount over the regional benchmark, according to a price list seen by Bloomberg. The last two times it sold the grade at a discount were during price wars in 2020 and 2015.”
“Saudis Slash Main Oil Price to Rare Discount as Market Dives,” read the Bloomberg headline shared by Trump. State producer Saudi Aramco will cut Arab Light crude for next month by $11 a barrel to a $1.50 discount over the regional benchmark, according to a price list cited in the report. The last two times Aramco sold the grade at a discount to Asian buyers were during price wars in 2020 and 2015.
The move follows a broad cooling of oil markets since highs seen earlier in 2026. US Crude traded near $70 a barrel and Brent near $73 a barrel in late June, with prices under pressure as global supply expands (see capital.com). A US-Iran ceasefire framework signed in mid-June, along with the agreed reopening of the Strait of Hormuz, reduced the risk premium that had pushed Brent above $120 a barrel during the conflict (see capital.com).
OPEC+ policy has added to the downward pressure, with the group approving its fourth consecutive output quota hike since the Hormuz closure and lifting cumulative increases since April to nearly 600,000 barrels per day (see capital.com). Major banks have cut their forecasts, with Citi lowering its Brent estimate to $70 a barrel for the fourth quarter and the US Energy Information Administration projecting Brent near $70 by year-end (see capital.com).
In the last 30 days, 24 of 545 Trump posts were on topic “Economy”.
Source: Zenger real-time database of all Truth Social posts.
Note: Chart generated on July 6, 2026 at 2:05 PM EST
Source: Zenger analysis
Note: Table generated by https://zenger.news on July 6, 2026 at 2:05 PM EST