Last week, OPEC countries and other major oil producers that participated in the 2016 Vienna deal agreed on increasing production to one million barrels per day, which is the volume of the countries' over-compliance with the agreement.
He hopes that will keep prices low - and motorists happy with cheaper fuel - as he tries to force the Iranians out of the market.
Last week, US State Department officials announced that they are pushing nations to bring down purchases of Iranian oil to zero.
So, how much support can Trump garner for his economic assault against Iran? "We are working to minimize disruptions to the global market but we are confident there is sufficient global spare oil capacity".
"Just spoke to King Salman of Saudi Arabia and explained to him that, because of the turmoil & disfunction in Iran and Venezuela, I am asking that Saudi Arabia increase oil production, maybe up to 2,000,000 barrels, to make up the difference", Trump tweeted.
"Although geopolitical risk factors ranging from suspended oil exports from Libya, falling production in Venezuela and U.S. sanctions on Iran have supported oil, the oversupply concerns could make a return".
Late last week, Iran's Oil Minister Bijan Zangeneh urged the Organization of Petroleum Exporting Countries (OPEC) to prevent some of its members from increasing output without arriving at a consensus.
While the comments were ambiguous, Iranian officials in the past have threatened to block the Strait of Hormuz, a major oil shipping route, in retaliation for any hostile USA action.
US President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets in an interview that aired on Sunday. That's what we're doing.
Trump announced earlier this year that he would pull the US out of the pact, which offered Tehran sanctions relief in exchange for curbing its nuclear program. It's awful what they do to us, he said. Trump has imposed tariffs on steel and aluminum in response to what he calls unfair trade practices from Europe, Canada, and other allies around the world, who have responded with retaliatory sanctions in kind.
A survey of analyst expectations from S&P Global Platts revealed expectations of a drain on USA crude oil inventories of 4.5 million barrels last week, adding support to the concerns about a market deficit.
Saudi Arabia has been pumping around 10 million bpd in recent months and sources close to its oil policy have said it could raise output to 11 million bpd.