No immediate plan to raise oil output after Iran waivers end: Saudi

Riyadh | Saudi Arabia does not plan to immediately raise oil output after the United States ends sanction exemptions for buyers of Iranian crude, energy minister Khalid al-Falih said on Wednesday.

“(Global) inventories are continuing to rise despite what’s happening in Venezuela and tightening sanctions on Iran,” Falih told a finance conference in Riyadh. “So I don’t see the need to do anything immediately.”

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