Minister says ‘2020 will be very good’ Not worried about Russia’s OPEC+ commitment US producers facing financial challenges US shale production will be flat or even declining by 2021, and global oil demand is healthier this year than it was in 2019, UAE energy minister Suhail al-Mazrouei said Saturday. “My expectation is that 2020 will be very good,” he told reporters on the sidelines of the Atlantic Council Global Energy Forum in Abu Dhabi. The UAE and its OPEC+ counterparts on January 1 began a three-month 1.7 million b/d production cut accord aimed at warding off a potential supply glut. Mazrouei said he was confident that the deal would maintain a balanced market in the first quarter and that current market conditions were “OK” but refused to comment on the future of the agreement. “We will […]