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10
Volume
44
Issue
3
OAPEC Member Countries
HE Eng. Suhail Al Mazrouei, UAE Energy
Minister, said that OPEC and non-OPEC oil
producers, including Russia, will consider
continuing their cooperation beyond 2018 to
help avoid any future oil glut or shortage. He
added in an interview with Reuters in London
that he expects that a framework cooperation
will be discussed by OPEC ministers in their next
meeting in Vienna in June 2018. The meeting
is expected to be attended by other producers
who are part of the output cut deal.
HE Mazroui explained “there are enormous
potentials for cooperation, whether in oil or
energy in general.” He explained that oil market
monitoring beyond 2018 is the minimum OPEC
and other producers participating in the supply-
reduction agreement can do.
HE AL MAZROUEI:
COORDINATION BETWEEN OIL PRODUCING
COUNTRIES TO AVOID BIG MARKET SHCOKS