Saudi Arabia indicated on Wednesday that it could raise its oil output to offset any potential supply shortage as a result of new sanctions on Tehran, after U.S. President Donald Trump said Washington was withdrawing from the Iran nuclear deal. Oil prices had been supported by expectations that Trump would pull out of the deal, which could hit Iranian crude exports and feed geopolitical tensions in the Middle East, home to one-third of the world’s daily oil supply. Trump said on Tuesday that the United States was reimposing the “highest level of economic sanctions” on Iran, but he did not provide details. The original 2015 agreement had lifted sanctions in exchange for Tehran limiting its nuclear program. Saudi Arabia […]