UAE EnergyMin: Oil market is moving ever closer to becoming rebalanced

UAE Energy Minister Suhail Mohamed Faraj Al Mazrouei has recently delivered the below-seen comments, via Reuters.

• Market is moving ever closer to becoming rebalanced.
• We remain optimistic that we will fulfill our goal of delivering sustainable oil market stability.
• Acknowledging concerns expressed by some importing and consuming countries regarding potential shortages in the global oil market.
• Significant progress we have achieved will only be sustained if our cooperation is institutionalized in some way, shape or form.
• Will discuss and agree our plans for the remainder of 2018 and beyond when OPEC meets this week.