UAE EnergyMin Al Mazroui: Production cuts deal is benefiting global economy

UAE Energy Minister Suhail Al Mazroui is on the wires now, via Reuters, commenting on the OPEC output cuts deal.

Key Points:

Production cuts deal is benefiting global economy.

OPEC cuts have removed 85 percent of the problem of oil surplus.

OPEC, non-OPEC cooperation won't be abandoned when the production cuts deal ends.

Gulf countries have enormous reserves of shale.