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Saudi Crown Prince Says OPEC Working To Keep Oil Prices Down

OPEC and its allies have been responding to requests from the US for increased oil production and doing what they can to prevent prices rising, Saudi Arabia’s Crown Prince Mohammed bin Salman has said. OPEC member states and their allies including Russia “did our job and more” in raising output by about 1.5 million barrels a day (MMbbl//d), Prince Mohammed said in an interview with Bloomberg published Friday. This would more than offsetting an estimated 700,000 bbl/d  taken off world markets as a result of the U.S. decision to reinstate sanctions on Iran over its nuclear program.
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