The energy minister of the UAE said Monday supply and demand in the oil market should balance out in the first quarter of 2019, following weeks of output cuts. "My expectation is that we will see the balance during the first quarter unless something happens," Suheil al-Mazrouei told the three-day World Government Summit in Dubai. "We are removing enough oil to correct the market," Mazrouei said. OPEC cartel countries and other major oil producers in January began implementing a deal to cut output by 1.2 million barrels per day to shore up sagging prices. Based on provisional figures of production levels in January, ... (full story)