The United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Sunday he was hopeful producers will reach a consensus on extending an oil output cut next month.
“We are hopeful that the meeting in November will be a good meeting, that it will not be so difficult to reach consensus,” Mazroui told reporters in Abu Dhabi when he was asked about the prospect for an agreement on extending the oil output cut deal.
He said he expected the oil market to recover in the second half of the year. Asked whether any new members would join the output cuts this time he said: “All is on the table: the roll over on how many months...I’m hopeful.”
Also Read
-
Saudi Aramco expands in India to tap rising demand
Saudi Aramco launched a new Indian venture near New Delhi, a government statement said on Sunday, as the global oil exporter looks to tap rising ... Energy -
Falih tells Al Arabiya: Saudi Arabia, Russia working to stabilize oil markets
Saudi Energy Minister Khalid Al-Falih said that King Salman's visit to Russia has taken relations with Moscow to a new level, pointing out the need ... Energy -
Oil rises as talk of new OPEC deal trumps record US exports
Oil prices rose on Thursday as signs Saudi Arabia and Russia would limit production through next year outweighed record US exports and the return of ... Energy -
Oil set for strongest Q3 since 2004, Iraq hints at OPEC extension
Oil was on course for its largest third-quarter gain in 13 years as prices rose on Wednesday after the Iraqi oil minister said that OPEC and its ... Energy
