Saudi minister sees 'plenty' of oil supplies, rising stocks

Jeddah, May 19 (AFP) OPEC kingpin Saudi Arabia said Sunday that oil supplies were sufficient and stockpiles were still rising despite massive output drops from Iran and Venezuela. "We see that (oil) inventories are rising and supplies are plenty," Energy Minister Khalid al-Falih told reporters at the start of a key meeting for oil producers.

"None of us wants to see the (oil) stocks swell again. We have to be cautious." (AFP) SCY SCY