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UAE Energy Minister Suhail bin Mohammed al-Mazroui said in a Twitter message on Monday that the oil market was balancing but that production by some OPEC members was slowing recovery.
"The market is headed toward balancing but the increase in production by some producers before the appropriate time is a cause of its delay," the message said. The minister added that Gulf Arab members would work toward achieving an early recovery in the market.
"The efforts exerted by the Gulf Arab states in OPEC to gather opinions and unify ranks to help the oil market toward an early recovery are not a secret to anyone," Mazroui said.
There are no comments.
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