Mazrouei speaks to journalists in Vienna, Austria.
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The United Arab Emirates foresees a "correction" in crude prices by the end of the year, and the OPEC member has yet to receive an invitation to a possible meeting of oil-producing nations seeking to rein in a global supply glut, Energy Minister Suhail al-Mazrouei said.Benchmark Brent crude prices dropped 33 percent in the last year as OPEC boosted output in a fight for market share with higher-cost producers.The UAE was OPEC's fourth-biggest producer in February, pumping 2.98 million barrels a day, according to data compiled by Bloomberg.
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