Donald Trump has urged Saudi Arabia to sharply increase its oil production to combat the rising cost of fuel

US President Donald Trump has urged Saudi Arabia to sharply increase its oil production to combat the rising cost of fuel.

Mr Trump tweeted that he had asked Saudi ruler King Salman to raise oil output by up to two million barrels a day.

“Prices to [sic] high! He has agreed!” the president added.

Mr Trump said the move was needed due to “turmoil and dysfunction in Iran and Venezuela”.

Oil prices rose last week, partly due to US plans to reimpose sanctions on Iran, a major oil producer.

The Opec oil producers’ group agreed to increase output, as did Russia, but this failed to reassure markets.