OPEC need not respond to a rise in oil prices by rushing to change a global supply-cutting pact, United Arab Emirates Energy Minister Suhail al-Mazroui said on Friday.[...]
IEA expects more shale oil production from the United States[...]

Brent futures climbed to $70 per barrel late Thursday amid speculation that some producers may loosen the taps to take advantage of potential higher revenues

The price of oil rose to its highest levels since December 2014 on Thursday after OPEC ministers re-iterated their stance on limiting the world's oil supplies.[...]
The OPEC/Russia deal for crude oil production cuts could extend beyond 2018, the United Arab Emirates’ energy minister, Suhail al-Mazrouei has suggested. Speaking to CNBC, Al-Mazrouei said "I am expecting that this group of countries that stood and have ...[...]
"We don't look at the price in a day and say we are in a point where we need to do changes. We need to give the market time," Mazroui, who holds OPEC ..[...]
United Arab Emirate energy minister says OPEC's success is such that there is a sentiment of others wanting to join "the clan."[...]


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