UAE energy minister says idea of long-term alliance liked by majority of participating countries

UAE energy minister Suhail Al-Mazroui on the wires

• Says that objective of long-term oil producers' alliance is to keep momentum built up during supply cut deal

No guesses as to what "alliance" he is referring to. The key date for the OPEC+ pact will be on 22 June, when the next OPEC meeting in Vienna will be held.

But I reckon they wouldn't be too upset if oil prices remain at current levels.