Saudi Arabian Energy Minister Khalid al-Falih has said the kingdom is ready to meet global consumer oil demand after waivers granted by Washington to buyers of Iranian oil expire.

“I confirm our commitment to meet all these requests (to replace Iranian oil). But at the same time, we will do this remaining part of the OPEC+ deal, we will stick to it. We do not need to voluntarily exceed the limits set,” Falih told RIA Novosti. He noted that Iranian exports were not significant.

“The only indicator I have is consumers’ demand for Saudi oil… These figures are moderate at the moment, the demand is healthy, there is nothing to worry about… There is no shortage on the [global oil] market,” he said. (RT)