By November 14, 2017 0 Comments Read More →

OPEC may expand to include allied oil producers, UAE energy minister says

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United Arab Emirates Minister for Energy Suhail al-Mazroui said Tuesday there is “definitely” an appetite for non-OPEC members to join the 14-member cartel.

When asked whether the non-OPEC countries currently complying to the global supply cuts could eventually become official members of the cartel, al-Mazroui replied: “There is definitely a willingness and a wish to expand OPEC.”

“It would have been difficult to try to rebalance the market alone and so I think there is a rationale for this group to stay together… and maybe even expand,” he said at the Abu Dhabi International Petroleum Exhibition Conference (ADIPEC)…

 

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