Abu Dhabi – Mubasher: Oil global market is expected to balance in 2019, the UAE’s Minister of Energy Suhail Al Mazrouei told Bloomberg TV on Tuesday.

It is premature to decide whether we will extend OPEC's output cut deal or not, but we are studying and monitoring the market, Al Mazrouei added.

“As you know, we are moving rapidly to the delivery of 100 million barrel demand per day (bpd). There are very limited areas where we can see that supply to come,” Bloomberg reported, citing the top official as saying. 

When asked about the political situation in Saudi Arabia, the Emirati minister stressed that the oil-rich kingdom played a significant role in assembling OPEC and non-OPEC countries for the output discussions, in addition to its role in joining Russia to the cooperation group.

“I’m confident that Saudi Arabia is always going to be responsible and responsive to what this group of 24 is trying to do,” the top official concluded.