Opec co-operation with Russia is ‘new norm’ — UAE energy minister

Opec co-operation with Russia is ‘new norm’ — UAE energy minister:

"The UAE’s energy minister reaffirmed that Opec countries alone would not balance supply and demand in the event of another price crash, adding that the involvement of Russia is now the “new norm”.

Suhail al-Mazrouei said some of the world’s biggest producer nations were looking to establish a “structure” for long-term co-operation, following a supply curbs deal among 24 countries inside and outside the Opec cartel.

“We are living in a new norm,” said Mr Mazrouei, speaking at the International Petroleum Week conference in London. “Opec alone cannot be responsible for the whole restoration of the market.”"



'via Blog this'