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OPEC+ Cuts Aimed at Balancing Market: UAE

OIL

The United Arab Emirates' energy minister Suhail al-Mazrouei said that additional voluntary cuts by the OPEC+ producer group were implemented to balance the oil market.

  • On whether further adjustments are needed in OPEC+ supply, the minister said “let’s wait” for technical teams to review, and that “things are changing and this sometimes requires us to adjust”
  • "I'm not that worried about the very short term, I think we can manage balancing the supply with demand. I'm more worried about the level of investment required for years to come," he said.

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