Saudi's Falih will stick to global oil deal, pact could be extended: RIA - Reuters:
Saudi Arabia will not rush to boost oil supply to make up for a loss of Iranian crude due to U.S. sanctions, and will stick to a global deal on oil production, which could be extended to the end of 2019, Energy Minister Khalid al-Falih told RIA news agency.
The United States decided last week not to renew exemptions from sanctions against Iran granted last year to buyers of Iranian oil, taking a tougher line than expected. Oil prices rose on concerns of a tighter oil market.
Falih was speaking to Russia’s RIA news agency on Tuesday, without specifying whether, or by how much, output levels could change after June.
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