UAE OilMin Al Mazrouei: oil market is still in process of rebalancing

Reuters reports comments from the UAE oil minister Suhail Mohamed Al Mazrouei as saying that the oil market is still in process of rebalancing.

He further added that the oil producers committee needs to do technical work looking at the right level of inventories.

Last Friday, Al Mazrouei noted: “OPEC members and non-OPEC producers over-delivered on the supply cuts they promised... But we must include further countries in the pact.”