HOUSTON (Pakistan Point News / Sputnik - 12th March, 2019) The United Arab Emirates (UAE) cut oil output in February by a little more than it pledged under the OPEC-non-OPEC deal, UAE Energy Minister Suhail Mazrouei told Sputnik on Monday.
"The UAE compliance in February is continuing to be great, we are committed to fully comply with our share of the cut. Our February numbers came a little above the required cut, but it happens from month to month - you can get a little more," Mazrouei said on the sidelines of the CERAWeek conference in Houston, Texas.
On December 7, participants of the OPEC-non-OPEC oil output cut deal, which has been in force since early 2017, agreed to reduce overall production by 1.2 million barrels per day starting from 2019, with a view of signing the charter on future long-term cooperation in the first quarter of 2019. OPEC member states will cut production by 800,000 barrels per day and non-OPEC countries by 400,000 barrels per day.
