BREAKING NEWS

BREAKING NEWS

Saudi's Falih - no need for immediate action after end of Iran oil waivers

Saudi's Falih - no need for immediate action after end of Iran oil waivers
Saudi Energy Minister Khalid al-Falih speaks during the Gulf Intelligence Saudi Arabia Energy Forum in Riyadh, Saudi Arabia April 8, 2019. REUTERS/Stringer. -
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RIYADH (Reuters) - Saudi Energy Minister Khalid al-Falih said on Wednesday he sees no need to raise oil output immediately after the United States ends waivers granted to buyers of Iranian crude, but added that his country remains focused on balancing global oil markets.

Falih said he was guided by oil market fundamentals, not prices, and that global oil inventories continued to rise.

(Reporting by Saeed Azhar and Stephen Kalin; writing by Rania El Gamal; Editing by Dale Hudson)

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