According to him, in the world there is a situation of a decrease in oil production for commercial purposes, which makes it possible for OPEC to carry out a program to reduce the extraction of raw materials. Al-Mazrui assured that the UAE fully comply with the terms of the agreement. The agreement provides for a reduction in the production of "black gold" to 1.8 million barrels per day, which was agreed in 2016 and extended for 2017.
The next OPEC summit will be held on June 22, 2018 in Vienna.
Thus, in support of the agreement, Saudi Oil Minister Khalid al-Falih, Russian Energy Minister Alexander Novak, representatives of Iran and Iraq.
The US economy will also increase its GDP by two percent, which will stimulate the market of US oil suppliers to increase the number of sales.
As reported in "URA-Inform", recently for the first time in two years the price of Brent oil exceeded $ 68 per barrel.