On the sidelines of Atlantic Council's Global Energy Forum in Abu Dhabi over the weekend, UAE Energy Minister Suhail al-Mazrouei said that the oil market is ‘stable’ at the moment, unperturbed by the price caps on Russian crude oil."The market is a bit stable, and we think the decisions we took have been a good decision and an indication of the stabilization that we are seeing.”
“No comments on how Russian oil volumes going forward would be affected by the price cap and sanctions.”is unable to take advantage of the encouraging comments, trading 0.45% lower at around $79.80. The US oil hit an intraday high of $80.43, earlier on. If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
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UAE energy minister: OPEC+ faces oil market volatility in both supply and demandOPEC+ is facing 'volatile prospects' in oil markets both in supply and demand, UAE energy minister Suhail al-Mazrouei told Asharq TV on Saturday.
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More investment needed to ensure affordable natural gas: Qatar, UAEQatar is one of the world's top producers of liquefied natural gas, and UAE is an OPEC oil producer that is sharpening its focus on the gas market as Europe seeks to replace Russian energy imports after its incursion into Ukraine.
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