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.
Mazrouei said it was premature to discuss compensating crude output losses in some of the exporting countries.
"Most OPEC and non-OPEC countries are doing their part" to balance the market, Mazrouei said separately, addressing a conference in Dubai.
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