DUBAI May 26 The extension of a global oil
output cut deal will help to bring balance to the oil market and
encourage investments in the oil sector, the United Arab
Emirates energy minister said on Friday.
The agreement "will help motivate balance of the market,"
Suhail bin Mohammed al-Mazroui said according to a statement on
state news agency WAM.
The Organization of the Petroleum Exporting Countries and
some non-OPEC producers on Thursday agreed to extend a pledge to
cut around 1.8 million barrels per day (bpd) of output until the
end of the first quarter of 2018.
(Reporting by Sylvia Westall. Editing by Jane Merriman)