UAE to continue oil supply cuts till market is re-balanced: Energy minister

The United Arab Emirates (UAE) will continue to deliver on crude oil supply cuts under a producer agreement until the global market is re-balanced, Minister of Energy and Industry Suhail al-Mazrouei said on Sunday.

The Organization of the Petroleum Exporting Countries (Opec) along with major non-Opec producers such as Russia have pledged to reduce their oil production to cut into a supply glut.

"We will continue to deliver on the Opec & non-Opec commitment for voluntary production adjustments, until the global market is re-balanced," al-Mazrouei said on Twitter.

He also added in another tweet that UAE compliance to cut oil supply for February