Sohail Al Mazrouei, UAE Minister of Energy, said that the market Oil will reach a balance between supply and demand in the first quarter of this year

OPEC, Russia and other producers who are not members of the organization , In the framework of the coalition known as OPEC +, in December, to cut production by 1.2 million barrels per day from January 1st.

Al-Mazrouei said: It is too early to consider compensation. Oil production lost in some exporting countries

noteworthy that Iran, Libya and Venezuela witnessed a drop in production as a result of the turmoil and trade sanctions