28 Nov 2017 - 10:13

UAE oil minister: Vienna producers' meeting won't be easy


DUBAI: A meeting of global oil producers in Vienna this week to discuss extending a system of output cuts will not be easy, United Arab Emirates energy minister Suhail bin Mohammed al-Mazroui said on Tuesday.

However, Mazroui added that he was personally optimistic that producers would reach an agreement that served the market. The Organization of the Petroleum Exporting Countries will meet in Vienna on Nov. 30.

Mazroui, speaking to reporters at an industry event in Dubai, said several options for extending the output cuts would be discussed, including a proposal to extend them to the end of 2018. They are currently due to expire in March.