Saudi Arabia's concern is to keep the global oil market well supplied, its deputy oil minister said on Thursday, as top Asian crude buyers look to the world's biggest producer to make up for cuts in supplies from sanctions-hit Iran.
Saudi Arabia is the only oil producer with significant spare capacity to replace a fall in supply from its regional rival Iran, which is facing Western sanctions aimed at crippling its contentious nuclear programme.
China, India and Japan, the top three buyers of Iranian oil, together buy about 45 percent of Tehran's crude exports and all of them are planning cuts of at least 10 percent.
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