UAE’s Energy Minister: We can balance supply and demand, not concerned very short term

Market news

9 May 2023

UAE’s Energy Minister: We can balance supply and demand, not concerned very short term

UAE Energy Minister Suhail Mohamed Al Mazrouei said on Tuesday, “We're not concerned about the very short term, we can balance supply and demand.”

Additional quotes

“We're more worried about investments long term.”

“That is why UAE is investing in increasing its capacity for the future.”

Market reaction

WTI seems to be weighed down by the latest comments from the UAE Energy Minister. The US oil is retreating from intraday highs of $73, trading modestly flat at $72.50, at the press time.

Currencies. Daily history for Tuesday, May 9, 2023

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