BREAKING NEWS

Saudi Arabia says concern is to keep oil market supplied

By REUTERS

FEBRUARY 23, 2012 10:42

NEW DELHI - 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.

"This is not an issue for us. We are concerned with maintaining the market well supplied, and that has always been our endeavor," Abdul Aziz Bin Salman bin Abdulaziz said, referring to the oil embargo on Iran.

When asked if oil prices will rise further if supplies from Iran drop, the Saudi minister, in New Delhi on an official visit, said: "We don't engage ourselves in any of these discussions."

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