Reuters report
Saudi Arabia is willing to compensate for the lost crude from stronger Iran oil sanctions but but the Kingdom will assess the impact on the market before raising its output, according to a Reuters report that cites 'a source familiar with Saudi thinking'.
"Any action by the top oil exporter depends on the certainty of scrapping the waivers and its effect on the oil market," the report says.
Details on how much additional Saudi oil will come to market are critical for the next move in oil. US Secretary of State Mike Pompeo is set to speak in a few minutes and may offer details.
