By: Amr Adel
Dubai – Mubasher: The UAE Energy Minister Suhail bin Mohammed al-Mazroui on Tuesday said that the approaching OPEC’s production reduction meeting in Vienna “will not be easy”.
It is likely that oil producers will reach an agreement suitable to the market during OPEC meeting on 30 November, al-Mazroui added.
“It will not be an easy meeting and we always look at various scenarios, but I am personally optimistic,” said the UAE’s minister.
Many options relating to the extension of the production cuts are projected to be discussed, one of them is extending the agreement, which will be expired in March, to the end of 2018, al-Mazroui revealed.
The energy minister did not give further information about the other options, according to Reuters.
As for Russia’s stand on the output cut agreement, al-Mazroui refused to comment, stressing that he “cannot comment on any country before he meets with them”, the international news agency stated.
Translated by: Muhammad Khalid
