HOUSTON, March 7 The United Arab Emirates is
accelerating its oil production cuts and expects to meet its
commitment to reduce output by 139,000 barrels per day (bpd) by
June, its energy minister said on Tuesday.
Suhail bin Mohammed al-Mazrouei told Reuters on the
sidelines of the CERAWeek conference in Houston that the OPEC
member cut more production last month than it did in January as
it phases in compliance with a historic agreement to bring
supplies closer to demand.
The Organization of the Petroleum Exporting Countries'
production-reduction pact, which was joined by non-OPEC
countries including Russia and Kazakhstan, is intended to reduce
global output by about 1.8 million bpd.
The six-month agreement originally took effect on Jan. 1.
(Reporting by Marianna Parraga; Editing by Marguerita Choy)