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Rebalancing oil market will take more time: UAE

Energy minister says his country is complying 100% with agreement to cut output

Opec and non-Opec producers agreed in December to cut supplies for six months, helping lift oil prices to around US$55 a barrel after a two-year slump.


DRAINING a global oil glut will take more time despite an improvement in oil market fundamentals since producers started cutting supplies, the energy minister of the United Arab Emirates (UAE) said on Tuesday.

"It will take time ... It took us from mid-2014 to now. We are...

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