UAE EnergyMin: Oil market is moving ever closer to becoming rebalanced

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UAE Energy Minister Suhail Mohamed Faraj Al Mazrouei has recently delivered the below-seen comments, via Reuters.

  • Market is moving ever closer to becoming rebalanced.
  • We remain optimistic that we will fulfill our goal of delivering sustainable oil market stability.
  • Acknowledging concerns expressed by some importing and consuming countries regarding potential shortages in the global oil market.
  • Significant progress we have achieved will only be sustained if our cooperation is institutionalized in some way, shape or form.
  • Will discuss and agree our plans for the remainder of 2018 and beyond when OPEC meets this week.
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