UAE oil minister sees market balanced in 2018

摘要

Crude markets will fully correct in 2018, largely driven by high levels of compliance with production cuts by Opec and non- Opec countries, UAE oil minister Suhail al-Mazrouei said on 11 January. Al-Mazrouei, who has recently taken over presidency of Opec, forecast the members of the Opec/non-Opec agree- ment would average “100pc compliance” in the frst half of 2018. He also expects falling output from several non-Opec crude suppliers, amid natural decline, and a greater focus on fundamentals.