UAE Energy Minister says will continue supply cuts until market is re-balanced | Reuters:
The United Arab Emirates (UAE) will continue to deliver on crude oil supply cuts under a producer agreement until the global market is re-balanced, Minister of Energy and Industry Suhail al-Mazrouei said on Sunday.
The Organization of the Petroleum Exporting Countries (OPEC)along with major non-OPEC producers such as Russia have pledged to reduce their oil production to cut into a supply glut.
“We will continue to deliver on the OPEC & Non-OPEC commitment for voluntary production adjustments, until the global market is re-balanced,” al-Mazrouei said on Twitter.
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