By: Ramy Sameeh
Abu Dhabi – Mubasher: UAE is committed to the terms of agreement reached between OPEC and non-OPEC agreement to cut oil production, UAE Energy Minister Suhail Al Mazrouei said.
The Emirates will cut, under the agreement, its daily oil output by 139,000 from 3.013 million to 2.874 million.
“Some countries reduced their production by a percentage higher than what is agreed on in the deal,” he added on the sidelines of the Atlantic Council Global Energy Forum in Abu Dhabi.
“We hope that all countries stick to the percentages determined previously,” Al Mazrouei noted.
The minister expected a balance between supply and demand in global oil markets in Summer, thanks to OPEC deal.
The meeting of the commission for control over oil production cut by OPEC countries and non-OPEC oil producers, will be held in Vienna to monitor oil output, the minister added.
Translated by: Julian Nabil
