Abu Dhabi/Dubai/Kuwait — Oil cartel Opec will stick with production cuts for the rest of the year as the group makes headway toward its goal of clearing an oversupply of crude, United Arab Emirates energy minister Suhail al-Mazrouei said Thursday. Oil demand showed surprising growth in 2017, and compliance with output cuts by Opec and allied producers increased in spite of higher crude prices, he said at a conference in Abu Dhabi. The market still has room for improvement, said Mazrouei, who is serving as Opec’s president for 2018. "I am confident of the commitment of all of the countries attending" Opec’s meeting in November, he said, referring to the group’s gathering in Vienna where it agreed to extend historic limits on output until the end of 2018. "Everyone is committed and everyone is benefiting from this agreement, and I have no doubt that we will continue a year of compliance in 2018." Crude prices were holding gains after a second yearly advance as Opec and its allies trim...
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