for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Saudi energy minister - oil inventories building despite sanctions on Iran, Venezuela

FILE PHOTO: Saudi Energy Minister Khalid al-Falih speaks at a news conference in Riyadh, Saudi Arabia January 9, 2019. REUTERS/Faisal Al Nasser/File Photo

BAKU (Reuters) - Saudi energy minister Khalid al-Falih said on Sunday there has been a build-up in oil inventories despite a decline in output from Iran and Venezuela.

Falih also told a press briefing in Baku that compliance for an OPEC+ deal in March would be “above 100 percent”, adding that Saudi oil output would not continue indefinitely to compensate for other producers.

Reporting By Rania El Gamal; Editing by Gareth Jones

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up