| Reuters cited Mr Rostam Qasemi oil minister of Iran as saying that Saudi Arabia will not be able to replace Iranian oil supplies in the long run, in case of shortfalls due to sanctions against Iran.
Mr Ali Al Naimi oil minister of Saudi Arabia said that top oil exporter Saudi Arabia was determined to bring down high oil prices, reiterating there were no supply shortages in the global markets and the kingdom stood ready to use its spare production capacity if necessary...............................................Full Article: Source
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