United Arab Emirates Energy Minister Suhail Al Mazrouei (pictured) told reporters on Wednesday that the UAE has no plans to join additional voluntary oil production cuts at the moment.
The energy minister explained that at present, the country believes Saudia Arabia and Russia's output slashes should be sufficient to help the crude market get into balance.
Previously, Moscow revealed that it will be slashing its oil output by 500,000 barrels per day in August, while Riyadh announced it will extend its crude production cuts by one month.
