By: Amr Adel

Abu Dhabi - Mubasher: The Emirati minister of Energy, Suhail Faraj Al Mazrouei, said on Tuesday that global markets are in need to extend the Organization of the Petroleum Exporting Countries (OPEC) output deal.

On the sidelines of the session of the Federal National Council in Abu Dhabi, the minister told reporters that the upcoming OPEC ministerial meeting will discuss prolonging the deal on 25 May.

Russia leads the non-OPEC independent producers who reduced the crude oil produced by 558,000 per day.

Al Mazrouei explained that the decision will be through the members’ consensus decision to reach the targeted commitment regarding production levels.

The deal has helped the oil market to rebalance, the minister indicated, he also expects global demand to increase in the second half of 2017.