Saudi's Falih: no need for immediate action after end of Iran oil waivers

RIYADH: Saudi Energy Minister Khalid al-Falih said on Wednesday he sees no need to raise oil output immediately after the United States ends waivers granted to buyers of Iranian crude, but added that his country remains focused on balancing global oil markets.

Falih said he was guided by oil market fundamentals, not prices, and that global oil inventories continued to rise.