UAE’s Energy Min: OPEC committed to keeping cuts for the rest of the year

The UAE Energy Minister Suhail bin Mohammed Al-Mazroui's was reported by Reuters as saying that:

Oil demand growth was surprising in the last year.

Expects strong compliance on productions cuts for the year.

The oil market is rebalancing and the positive sentiment was to be expected.

The oil market is moving more towards being driven by fundamentals than speculation.

Expects 2018 to be the year where the oil market achieves full balance.

Not worried that oil market will have a big supply shortage.