According to Reuters, Khaled al-Falih said that there will be a very slight change in the Kingdom's oil production in May compared to the last two months.
Al-Falih indicated that the allocations for Saudi Aramco for the month of June will be decided within two weeks.
He explained that he did not see a need to increase oil production immediately after the United States ended the exemptions granted to some buyers of Iranian crude.
Al-Falih added that his country’s focus will remain on balancing the global oil markets.
He said that he is guided by the basic factors of the oil market, not prices, and that global oil stocks continue to rise.
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