UAE says backs output freeze to support oil markets

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A fishing boat passes in front of the laid-up FPSO Opportunity in the Johor river August 24, 2016.      REUTERS/Henning Gloystein
A fishing boat passes in front of the laid-up FPSO Opportunity in the Johor river August 24, 2016. REUTERS/Henning Gloystein

ALGIERS  – The United Arab Emirates would support a global oil freeze initiative to help support markets, its oil minister said on Monday ahead of a meeting of oil producers and consumers in Algeria.

“If all members of OPEC are in agreement around a decision, I think there is a high likelihood of getting support of the others, especially Russia,” Suhail bin Mohammed al-Mazroui told Reuters.

“For us in the UAE, we are for a decision. We think a freeze will help if it is agreed. We hope that all are going to agree.”

(Reporting by Alex Lawler)

 

Reuters

 

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