S Arabia, Russia rebuff Trump’s call to boost oil production

ALGIERS, Sept 23 (Reuters): OPEC's leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out on Sunday any immediate, additional increase in crude output, effectively rebuffing US President Donald Trump's calls for action to cool the market.

"I do not influence prices," Saudi Energy Minister Khalid al-Falih told reporters in Algiers ahead of a meeting of OPEC and non-OPEC energy ministers.

Benchmark Brent oil reached $80 a barrel this month, prompting Trump to reiterate on Thursday his demand that the Organization of the Petroleum Exporting Countries lower prices. The price rally mainly stemmed from a decline in oil exports from OPEC member Iran due to fresh US sanctions.