TEHRAN – Saudi Arabian Foreign Minister Prince Faisal bin Farhan Al Saud said on Tuesday that there has been some progress in talks with Iran but “not enough,” Reuters reported.

He added that his country’s hands remain outstretched to Iran.

Speaking at a World Economic Forum panel in Dubai, Prince Faisal also said that recent parliamentary elections in Lebanon “may be a positive step” but that it was too early to tell.

When asked why Riyadh has rebuffed U.S. calls to raise oil production, he said Saudi Arabia does not expect an immediate shortage of oil and only a certain shortage of oil products, alarabiya.net reported.