January 11, 2017 / 12:24 PM / 7 months ago

UAE oil minister: supply cuts under OPEC agreement are happening

1 Min Read

ABU DHABI (Reuters) - The United Arab Emirates has spoken to its customers about oil supply cuts under the global agreement among producers, and is now implementing those cuts, UAE energy minister Suhail bin Mohammed al-Mazroui told reporters on Wednesday.

The impact of the output cuts by OPEC and non-OPEC producers is expected to be felt by the middle of this year, he added, predicting that growth in demand for oil would continue.

Reporting by Rania El Gamal; Writing by Andrew Torchia

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