UAE says relaxing oil supply cuts is 'not the right decision'

UAE's Oil Minister Suhail Mohamed Al Mazrouei arrives at the OPEC headquarters in Vienna, Austria December 7, 2018. REUTERS/Leonhard Foeger - Copyright LEONHARD FOEGER(Reuters)

By Reuters

Published on 19/05/2019 - 17:04•Updated 25/04/2024 - 18:08

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JEDDAH, Saudi Arabia (Reuters) - United Arab Emirates Energy Minister Suhail al-Mazrouei said on Sunday that oil producers were capable of filling any gap in the oil market and that relaxing supply cuts was not "the right decision".

Mazrouei said that the UAE does not want to see an increase in inventories that could lead to prices collapsing.

(Reporting by Dahlia Nehme, editing by Louise Heavens)

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