Saudi Arabia will only freeze the level of its oil production if all other major producers, including Iran, do so, Bloomberg reported on Saturday, citing Saudi deputy crown prince Mohammed bin Salman.
“If all major producers don’t freeze production, we will not freeze production,” he said.
“I don’t suggest that we should produce more, but we can produce more,” said the prince, who is second in line to the Saudi throne.
OPEC and non-OPEC oil producers are set to meet on Sunday in Doha, Qatar, to discuss freezing output levels. Read more