UAE Energy Minister Suhail al- Mazrouei said on his personal Twitter account that he was optimistic about balancing oil markets in the first quarter of 2019. He said his view was in view of the cut in production agreed by OPEC and its allies recently.
OPEC and its allies, led by Russia, agreed in December to cut oil production from January by 0.8 million bpd compared to October levels, while other countries allies would contribute an additional 0.4 million bpd.
