The UAE's Opec governor has warned of dark days ahead for the global economy and urged oil producers to prepare for a potential slump in demand.
Ali Al Yabhouni's comments yesterday came as Greece revealed its deficit was larger than originally stated and European politicians grappled with the debt crisis.
"There are ominous clouds on the horizon that represent a major downside risk," Mr Al Yabhouni told industry executives in Dubai. "We have to remain alert, ready to respond to changing situations, in particular to growing concerns over the economy and its inevitable impact on oil demand."
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