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Corrected (official): UAE energy minister says average oil price in 2018 was $70 a barrel

Reuters  |  ABU DHABI 

(Corrects (official) to show that Mazrouei was talking about in 2018, not 2019)

(Reuters) - said on Saturday the in 2018 was $70 a barrel.

The Organization of the Petroleum Exporting Countries and other leading global led by agreed in December to cut their combined by 1.2 million barrels per day to balance the starting from January.

"Today we look at an average year of around $70 for Brent," Mazrouei told an industry conference in Abu Dhabi, adding that this level would help encourage global An ministry spokesman said the was referring to the in 2018.

(Reporting by and Maha El Dahan; Writing by Maher Chmaytelli; Editing by Kim Coghill)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, January 12 2019. 15:47 IST