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Saudi energy minister - oil inventories building despite sanctions on Iran, Venezuela

FILE PHOTO: Saudi Energy Minister Khalid al-Falih speaks at a news conference in Riyadh, Saudi Arabia January 9, 2019. REUTERS/Faisal Al Nasser/File Photo (Reuters)

BAKU (Reuters) - Saudi energy minister Khalid al-Falih said on Sunday there has been a build-up in oil inventories despite a decline in output from Iran and Venezuela.

Falih also told a press briefing in Baku that compliance for an OPEC+ deal in March would be "above 100 percent", adding that Saudi oil output would not continue indefinitely to compensate for other producers.

(Reporting By Rania El Gamal; Editing by Gareth Jones)