UAE Energy Minister Says OPEC-Non-OPEC Look to Fill in Any Gap in Case of Market Shortage
UAE Energy Minister Suhail Mazrouei said on Saturday that OPEC-non-OPEC nations were looking to fill in any gap in production from whole group in case of market shortage amid falling Iran output
JEDDAH (Pakistan Point News / Sputnik - 18th May, 2019) UAE Energy Minister Suhail Mazrouei said on Saturday that OPEC-non-OPEC nations were looking to fill in any gap in production from whole group in case of market shortage amid falling Iran output.
"I do not want to talk about specific countries, but overall we are looking to fill any gap from the whole group if there is a need to attend any shortage in the market we will do it.
But we do not see it, we see inventories build up, so we need to attend to it first," Mazrouei told reporters, asked if OPEC-non-OPEC needed to increase production to make up for Iran.
The meeting of the Joint Ministerial Monitoring Committee (JMMC) is to include the countries which are members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members. It is due to take place in the Saudi city of Jeddah.