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OPEC UAE says backs output freeze to support oil markets

"For us in the UAE, we are for a decision. We think a freeze will help if it is agreed. We hope that all are going to agree."

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A fishing boat passes in front of the laid-up FPSO Opportunity in the Johor river play A fishing boat passes in front of the laid-up FPSO Opportunity in the Johor river August 24, 2016. (REUTERS/Henning Gloystein)

The United Arab Emirates would support a global oil freeze initiative to help support markets, its oil minister said on Monday ahead of a meeting of oil producers and consumers in Algeria.

"If all members of OPEC are in agreement around a decision, I think there is a high likelihood of getting support of the others, especially Russia," Suhail bin Mohammed al-Mazroui told Reuters.

"For us in the UAE, we are for a decision. We think a freeze will help if it is agreed. We hope that all are going to agree."

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