By: Rami Samih
Abu Dhabi – Mubasher: Oman’s Minister of Oil and Gas, Mohammed bin Hamad Al Rumhi, suggested that OPEC (Organization of the Petroleum Exporting Countries) has to cut production by five to 10% as global oil market is oversupplied.
On the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) on Monday, Al Rumhi said that market has reached its lowest level, but no one knows how long it will remain at this level.
Despite not being a member in the OPEC, Oman attended the organisation’s last meeting in October.
Translated by: Elwy el-Manzalawy
