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UAE Energy Minister: Our commitment to reducing oil production 100%
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 Arab and international |
Economy News _ Baghdad UAE Energy Minister Suhail Al Mazrouei said his country's commitment to an agreement to cut oil supplies is 100%. "UAE compliance is 100% and we announce reductions every month," Al Mazrouei said on the sidelines of an event in the UAE capital Abu Dhabi on Monday. "In the past two months, we have cut our exports by 10 percent." Al Mazrouei said Abu Dhabi National Oil Company (ADNOC) cut crude allocations by 10% in September and October. On the other hand, said Iranian Oil Minister Begin Zengneh that OPEC's commitment to the agreement to reduce the production of crude "acceptable", adding that there is a need for some changes if the producing countries seek to rebalance the market. "OPEC's commitment is generally acceptable, but some changes are needed," the official website of the Iranian Oil Ministry quoted Zangane as saying. "First of all, all members must be 100 percent committed to a production reduction agreement, and second, Nigeria and Libya should be taken into consideration," he said. |
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