The world oil market is approaching equilibrium, - President of OPEC

The world oil market is increasingly approaching balance, said Monday the current President of OPEC, Minister of energy and industry of the UAE Suhail al-Mazroui, RIA Novosti reported.

According to him, which is reported by the Emirate news Agency WAM, this issue will become Central at the next OPEC meeting, which will be held on June 22 in Vienna.

"The level of reserves has significantly decreased since the beginning of 2017, and the oil market has become more and more close to balance," the Minister said.

At the same time, he noted that the organization "will have to take into account the concerns expressed by some importing countries and consumers about the possible deficit in the world oil market".

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