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Saudis want to inflict more pain on oil producers: Kilduff

Crude markets are poised to become more volatile as Saudi Arabia flexes its muscles in the region and seeks to turn the screws on U.S. and Iranian oil production, Again Capital partner John Kilduff said Monday.

Negotiations to freeze crude production at January levels fell apart over the weekend after Iran snubbed the gathering and top oil exporter Saudi Arabia refused to follow through with the deal without Tehran's participation.

Kilduff pinned the aggressive stand on Saudi Deputy Crown Prince Mohammed bin Salman. Ahead of the Doha meeting, the 30-year-old prince said Saudi Arabia could increase production by 1 million barrels per...