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UAE energy minister says OPEC committed to supply cut pact for full year

Reuters  |  ABU DHABI 

ABU DHABI (Reuters) - The United Arab Emirates (UAE) Energy Minister said on Thursday he expects the oil market to balance in 2018 and that the Organization of the Petroleum Exporting Countries (OPEC) was committed to continue with its supply cut pact until the end of this year. "OPEC is committed to what they have decided when we met in November (2017)...to continue this for a full year," Suhail al-Mazrouei, said at an event in the UAE capital of Abu Dhabi, adding that more time is needed to achieve a full balance between oil supply and demand. He said he expects market balance to be ...

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First Published: Thu, January 11 2018. 12:50 IST
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