UAE to continue oil production cuts until markets stabilize

123rf

The UAE will meet if not exceed its obligations to cut oil production in-line with an Organisation of Petroleum Exporting Countries (OPEC) agreement.

That's according to the UAE's Minister of Energy and Industry Suhail Al Mazrouei, who said it will continue to deliver on its promises until the global market was rebalanced. 

On Twitter, he wrote: 'We will continue to deliver on the OPEC & non-OPEC commitment for voluntary production adjustments, until the global market is re-balanced.

"UAE compliance for the month of February will meet, if not exceed, its obligations... This will help to bring balance and stability to the global oil market."

More from Business

Coming Up on Dubai Eye

  • The Business Breakfast

    6:00am - 10:00am

    The Business Breakfast is the day’s must listen for the UAE’s business leaders, and those who aspire to be.

  • The Agenda with Tom Urquhart

    10:00am - 1:00pm

    Your chance to have your say and debate the issues you love or loathe. It’s the chance to set The Agenda on the big topics of the day.

On Dubai Eye

  • Earth Hour

    In celebration of Earth Hour we are asking you the residents of the UAE to show support to our beautiful planet earth.

  • Life as a captive of Somali pirates

    This is the story of how Michael Scott Moore survived 977 days in the company of pirates.

  • The 17 Year Old going to Mars

    We caught up with a precocious young lady whose ambitions are literally out of this world. 17 year old Alyssa Carson is in training to go to Mars.