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UAE energy minister expects average oil price of $70 in 2019

Reuters  |  ABU DHABI 

(Reuters) - Minister said on Saturday he expects an of $70 a barrel in 2019 on the back of an agreement to cut output by and non-

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 in order to balance the starting from January.

"Today, we look at an average year of around $70 for Brent," Mazrouei said at an industry conference in Abu Dhabi, adding that this level would help encourage global

(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. 12:20 IST