Oil market to reach balance in Q1: UAE energy minister | Reuters:
The oil market should reach a balance between supply and demand in the first quarter of this year, UAE Energy Minister Suhail Al Mazrouei told Al-Arabiya television on Monday.
He said he was satisfied with the implementation of an agreement to cut supply by the Organization of the Petroleum Exporting Countries and allies, including Russia.
OPEC, Russia and other non-OPEC producers - an alliance known as OPEC+ - agreed to reduce supply by 1.2 million bpd from Jan. 1.
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