Saudi Arabia may pump more oil next month but this does not necessarily mean it will raise exports as well, Reuters reports , citing sources familiar with Riyadh’s plans. The additional production, the sources said, will likely be used for power generation in the Kingdom. This may disappoint Washington as President Trump has urged Saudi Arabia to step up production to avoid a price spike now that the Iranian sanction waivers to eight large oil importers have ended. So far the market’s reaction to the end of the waivers has been moderate, not least because of assurances from the Saudi side that it had the capacity and willingness to reverse the production cuts agreed in December. It is here that U.S. and Saudi interests in oil diverge. The most vital industry information will soon be right at your fingertips Join the world’s largest community dedicated entirely to energy professionals […]