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Oil cuts removed 85 percent of the oversupply problem-UAE category
April 4, 2018
Source: World Oil

Oil cuts removed 85 percent of the oversupply problem-UAE

According to the United Arab Emirates (UAE) Energy Minister, the global agreement on curbing the oil output has mitigated 85% of the oversupply problem. The international economy is benefiting from the supply cuts. The minister feels that the cuts may affect the drilling costs, completion costs but overall, the effect will be trivial on the oil prices.

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