The progress made by a group of major producers from OPEC and outside the organization towards cutting oil output by a combined 1.8 million b/d will be assessed next week at a meeting in Vienna, the UAE energy minister said Thursday. “We will meet in Vienna next week to look at and evaluate those commitments, and put together an action plan,” Suhail al-Mazrouei told delegates at the Atlantic Council Global Energy Forum in Abu Dhabi. Mazrouei said international oil prices had this month made “a fair movement towards a correction,” and were on the right trajectory to balance the market. “But the real correction will happen when we see some action from the concerned group who came together,” he said, referring to a December meeting between OPEC members and certain other major international producers including Russia and Oman. “I personally have lots of trust in the commitment of those […]