US energy secretary says Saudi raising production to offset Iran sanctions impact

Rick Perry told CNBC on Tuesday said Saudi "allies" are increasing their production.
Tuesday 07/05/2019
Saudi Arabia's King Salman bin Abdulaziz Al Saud meets with U.S. Energy Secretary Rick Perry in Riyadh, Saudi Arabia, December 4, 2017. (Reuters)
Saudi Arabia's King Salman bin Abdulaziz Al Saud meets with U.S. Energy Secretary Rick Perry in Riyadh, Saudi Arabia, December 4, 2017. (Reuters)

US Energy Secretary Rick Perry told CNBC on Tuesday that Saudi Arabia is increasing its oil production to meet needs arising from sanctions on Iran.

"Our allies, Saudi Arabia for instance, are increasing their production to meet these needs relative to the Iran sanctions," Perry said in an interview with CNBC, adding that the message for US allies around the world is to not do business with Iran.

(Reuters)