Reuters: US Dollar Report: UAE, Saudi promise more oil to South Korea-fin min

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UAE, Saudi promise more oil to South Korea-fin min May 7th 2012, 08:30 ABU DHABI | Mon May 7, 2012 4:30am EDT ABU DHABI May 7 (Reuters) - The United Arab Emirates and Saudi Arabia have promised to fill any gap in South Korea's oil imports if Iran decides to cut its crude exports to the country, South Korean Minister of Strategy and Finance Bahk Jae-wan said on Monday. "So far the UAE and Saudi Arabia have promised to provide more oil than now if things get worse. They have promised to fill the gap," he told reporters on the sidelines of a bilateral economic meeting with UAE officials in the capital Abu Dhabi. He said no oil volumes had been specified so far.

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