Saudi Arabia, the world’s top oil exporter, said Monday it can pump more oil at a moment’s notice, the day after Iran warned Gulf oil producers not to compensate for any disruption to Iranian output.
Saudi Arabia’s Oil Minister Ali al-Naimi, in an interview with CNN, said Riyadh could increase production by about 2 million barrels per day (bpd) “almost immediately.”
Naimi’s remarks were aired after Iran said Sunday the Gulf should not lift output to make up for any shortfall from Iran in the event of oil sanctions on Tehran.
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