UAE energy minister Suhail al-Mazrouei
Bloomberg: UAE Says Oil Supply A Bigger Issue Than Demand For 2024
Oil supplies will pose a bigger issue than demand for global markets in 2024 as some countries struggle with production and investment, the United Arab Emirates energy minister said.
Global oil markets are currently balanced, Suhail Al Mazrouei told Bloomberg TV in Dubai, adding to signals that the UAE and fellow OPEC+ producers will stick with current production targets this year.
But he cautioned that, when the Organization of Petroleum Exporting Countries and its partners review plans for 2024 at the end of the year, the biggest quandary may be how the world will satisfy rising consumption.
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Update: The UAE Is Worried About An Oil Supply Shortage In 2024 (OilPrice.com)
WNU editor: UAE’s Energy Minister Suhail Al Mazrouei’s analysis is spot on. His interview is here …. UAE Energy Minister: ‘More Worried About Oil Supply Than Demand’ (Bloomberg).