Oil at $50 will help economy, hinder investment: UAE

An oil price of $50 a barrel may help the global economy recover faster, the UAE oil minister said, but could deter investment in capacity
among non-OPEC producers according to International Energy Agency estimates.

"$50 will hopefully help the economy to recover more quickly," United Arab Emirates Oil Minister Mohamed al-Hamli told reporters on the sidelines of an energy conference in Dubai.

Hamli said the UAE, an OPEC member and the world's third-largest oil exporter, would go ahead with capacity expansion projects but that the decline in oil prices placed the burden on producers to invest in anticipation of future demand.