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UAE energy minister says average oil price in 2018 was $70 a barrel

Reuters  |  ABU DHABI 

(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)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, January 12 2019. 20:27 IST