Saudi Prince Says He Could Add a Million Barrels Immediately

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April 17, 201610 yr

Could pump 11.5 million B/D if we wanted: Deputy Crown Prince
Prince reiterates nation will only freeze output if Iran joins

Saudi Arabia could raise crude output by more than a million barrels a day immediately if there was demand for it, said the kingdom’s Deputy Crown Prince, as he reiterated the nation would only agree to freeze production if all major producers including Iran do the same.

The world’s largest oil exporter could increase output to 11.5 million barrels a day immediately and go to 12.5 million in six to nine months “if we wanted to,” Prince Mohammed bin Salman, who is also chairman of the Supreme Council of Saudi Arabian Oil Co., said in an interview Thursday. The country pumped 10.2 million barrels a day last month, according to data compiled by Bloomberg.

http://houstonenergyinsider.com/?p=5226

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