Saudi oil exports will be below 7 mln bpd until May-end: Al-Falih

30/04/2019 Reuters

 

Saudi Arabia's oil exports will be below 7 million barrels per day (bpd) until the end of May, Saudi Energy Minister Khalid Al-Falih told Russian state news agency RIA in an interview.

 

He said his country's oil production would be much lower than 10 million bpd until the end of next month, RIA reported.

 

Al-Falih also said that Saudi Arabia is ready to meet oil consumers' demand by replacing supplies from Iran after the United States ends waivers granted to buyers of Iranian crude.

 

He that the global deal to coordinate oil production levels could be extended after June.

 

"We will look at (global oil) inventories - are they higher or lower than the normal level and we will adjust the production level accordingly. Based on what I see now ... I am eager to say that there will be some kind of agreement," Falih told RIA.

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