Abu Dhabi – Mubasher: The UAE’s Energy Minister Suhail bin Mohammed al-Mazroui on Monday announced that OPEC and non-OPEC oil producers were planning to announce an exit strategy from global oil output cuts in June.
“Mazroui stated that it was premature now to talk about the form or the shape of such an exit strategy before June, when OPEC, Russia and other oil producers participating in the pact are due to meet next,” according to Reuters.
The participants in June’s meeting will set an oil production strategy, which does not necessarily mean exiting the output cut deal, Mazroui added, Reuters reported.
