Tuesday 29 March 2022

Squeezing any member out of OPEC+ would only stoke oil prices - #UAE energy min | Reuters

Squeezing any member out of OPEC+ would only stoke oil prices -UAE energy min | Reuters

United Arab Emirates energy minister Suhail al-Mazrouei said on Tuesday that the only mission of OPEC+ is to stabilise markets and come up with as much supply as possible, and that squeezing any partner out of the oil alliance would only increase prices.

He said it was difficult to predict the future of market volatility, due to issues such as whether Iranian barrels would return to the market or if there will be more investment in the oil and gas sector.

Mazrouei said he believed that there will be growth in demand.

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