Saudi Arabia could raise crude production by more than a million barrels a day immediately, 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. Mohammed Bin Salman Source: Saudi Arabia’s Royal Court 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. If the kingdom chose to increase investment in its oil industry, total production capacity could be increased to 20 million barrels a day, the prince said at King Salman’s private farm in Diriyah, […]