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U.S. energy secretary says Saudi raising production to counter Iran sanctions impact - CNBC

impact - CNBC@

May 7 (Reuters) - U.S. 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 U.S. allies around the world is to not do business with Iran.

(Reporting by Kanishka Singh in Bengaluru; Editing by Alison Williams)