Mubadala chief cautions against thinking low oil price is here to stay | GulfNews.com:
"The chief executive and managing director of Abu Dhabi investment vehicle Mubadala Development Company cautioned on Monday against thinking low oil price is “the new norm”.
Khaldoon Al Mubarak, in his opening address at the Global Aerospace Summit in Abu Dhabi, told the audience “low oil prices are not something new”. “It has happened before and I assure you it will happen again,” he said.
Oil prices have fallen more than 65 per cent from a high of $115 a barrel in June 2014 to below $40 a barrel today. A significant amount of Abu Dhabi’s revenues comes from oil sales, raising concerns over the immediate future of the emirates investments."
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