LONDON (Reuters) – OPEC and non-OPEC oil producers, including Russia, will discuss extending their cooperation for many more years when they meet in June as they seek to avoid major market shocks, the United Arab Emirates’ energy minister told Reuters. Suhail al-Mazroui, who holds OPEC’s presidency this year, said leaders of the UAE, OPEC’s biggest producer Saudi Arabia and non-OPEC member Russia support extending energy cooperation beyond 2018. The Organization of the Petroleum Exporting Countries has agreed to extend oil supply cuts with Russia and other producers until the end of 2018. Mazroui said that he hoped a plan could be put to ministers at OPEC’s next meeting in June in Vienna, which non-OPEC producers participating in the supply-reduction agreement are expected to attend. “I think the potential is huge for cooperation, whether it is focused on the oil sector, or the broader energy sector,” Mazroui said in an […]