NEW YORK, Feb 11 (Reuters) - The energy minister of the United Arab Emirates said OPEC members are ready to cooperate on a production cut, although non-OPEC producers are holding off on output increases amid current prices, the Wall Street Journal reported on Thursday.
Suhail bin Mohammed al-Mazrouei was cited as saying non-OPEC supplies are expected to drop up to 800,000 barrels per day while global demand growth is seen at 1.3 million bpd, which will help the market balance itself, the report said.
"The positive thing is the current market is forcing everyone not to increase output," he said. "I'm optimistic that the balance will happen this year despite the oversupply and stocks overhang."
(Reporting By Catherine Ngai; Editing by Steve Orlofsky) ((Catherine.Ngai@thomsonreuters.com; +1 646 223 6071; Reuters Messaging: catherine.ngai.reuters.com@reuters.net))
Keywords: OPEC EMIRATES/
