Saudi Arabia said last week it plans to raise production in November from October output of 10.7 million barrels per day (bpd), indicating Riyadh will be boosting its supply to the highest ever level.
But Iran, OPEC's third-largest producer, has repeatedly said that its oil exports can not be reduced to zero because of high demand levels in the market and has blamed Trump for an oil price rally caused by imposing sanctions on Tehran.
Tanker schedules are often adjusted and exports can vary week by week.
White House National Security Adviser John Bolton said on Thursday that the administration's objective was that there be no waivers and "exports of Iranian oil and gas and condensates drops to zero".
Oil prices nearly fully recovered from a sharp drop on Monday, paring losses as investors bet China's economic stimulus moves would lift crude demand in the world's No. 2 economy.
"The step taken by the government reverses the price deregulation of diesel and petrol and increases the likelihood that the government may ask upstream companies Oil and Natural Gas Corporation (Baa1 stable) and Oil India Limited (Baa2 stable) to share the fuel subsidy burden", the report added. Brent crude on Wednesday last week reached $86.74 a barrel, the highest since 2014.
Facebook message about your account being cloned is a hoax
I actually got another friend request from you yesterday ... which I ignored so you may want to check your account. But despite viral messages claiming otherwise, Facebook profiles are not being "cloned".
India, the world's third-largest oil importer, is a major importer of Iranian oil.
The official said the administration "is ready to work with countries that reduce their imports on a case-by-case basis".
The comments followed news that India, Iran's No. 2 oil customer after China, will buy 9 million barrels of Iranian oil in November.
He said Indian refiners had started importing oil from the United States but purchases were constrained by USA infrastructure.
Iran has warned that if it were not able to export its crude oil through the Strait of Hormuz, no other country would be able to do so, threatening to block the strategic strait.
United States sanctions on Iran's crude oil exports are due to come into effect from November 4, after being imposed with the aim of stopping Tehran's ballistic missile programme and its involvement in Syria and Iran conflicts.