UAE energy minister Suhail al-Mazrouei
Mazrouei: OPEC+ will never target a certain oil price
UAE energy minister says OPEC+ cares that the oil price is right for consumers but right for the consumers for a very limited time only is short-sighted.
Monday 02/10/2023
UAE energy minister Suhail al-Mazrouei
ABU DHABI - The United Arab Emirates' energy minister Suhail al-Mazrouei told the ADIPEC energy industry event in Abu Dhabi on Monday that OPEC+ never targets a certain oil price, when asked about the risk of higher prices for the health of the global economy.
He said that as a producer group, OPEC+ cares "that the price is right for consumers but right for the consumers for a very limited time only is short-sighted," adding that more investment in needed in oil and gas.