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Saudi Arabia raising production to counter Iran sanctions impact: US

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Saudi oil production

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.

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