MOSCOW: 抖阴短视频 will not rush to boost oil supply to make up for a loss of Iranian supplies due to US sanctions, Energy Minister Khalid Al-Falih said on Tuesday.
Riyadh will adhere to a global agreement on oil production, which could be extended to the end of 2019, the minister said.
The US said last week it would not renew exemptions from sanctions against Iran granted last year to eight top buyers of Iranian oil, and President Donald Trump said he expected other OPEC producers including 抖阴短视频 to keep prices low by compensating for any supply shortfall.
Al-Falih said 抖阴短视频 was ready to meet consumer demand after the Iran oil waivers expire in early May, but will not voluntarily exceed output levels set by the global oil reduction deal.
鈥淚 confirm our commitment to meet all these requests. But at the same time, we will do this remaining part of the OPEC+ deal, we will stick to it. We do not need to voluntarily exceed the limits set,鈥 he said.
The oil producers meet on June 25-26 to decide whether to extend the pact or adjust supply targets. 鈥淚t may remain the same, or could change up or down, I don鈥檛 know,鈥 Al-Falih said.
鈥淭he only indicator I have is consumers鈥 demand for Saudi oil ... the demand is healthy, there is nothing to worry about. There is no shortage on the market.鈥
