No need for immediate action after end of Iran oil waivers: Saudi energy minister

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Author:

Reuters

ID:

1556092790551001900

Wed, 2019-04-24 07:57

RIYADH: Saudi Arabia’s energy minister said on Wednesday he saw no need to raise oil output immediately after the United States ends waivers granted to buyers of Iranian crude, but added that his country will respond to customers’ needs if asked for more oil.

Speaking in Riyadh, Khalid Al-Falih said he was guided by oil market fundamentals, not prices, and global oil inventories continued to rise.