UAE stresses commitment to achieving oil market balance

Abu Dhabi, United Arab Emirates Minister of Energy, Suhail al-Mazrouei, on Sunday underlined his country’s commitment to achieving balance in the oil market.

During a press conference in Abu Dhabi, al-Mazrouei told reporters that the UAE is not concerned about current oil prices, but rather the level of oil inventories.

He said that OPEC and non-OPEC producers are committed to the agreement on cutting production levels.

He stated that geopolitical effects and concerns about trade tensions rather than levels of supply and demand were affecting the market.

Source: Jordan News Agency