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On the sidelines of a visit to Beijing for a summit on China’s Belt and Road economic development initiative on Thursday, Saudi Arabia’s Energy Minister Khalid Al-Falih was reported by Reuters, as saying that China has “not yet” asked for more crude oil after the US decided to end sanction waivers on Iranian oil imports.

Asked if other Asian buyers had asked for more crude oil, Al-Falih said: “In the beginning of May, we will find out demand for June and will be responsive.”  

Saudi Arabia’s April crude oil production was nearly steady with previous months and will be in the 9.8 million barrels per day (bpd) range or “maybe lower”, he added.