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Politics : Rat's Nest - Chronicles of Collapse

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From: Wharf Rat	1/16/2023 2:32:34 PM
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UAE says OPEC faces volatility in both supply and demand OPEC is facing “volatile prospects” in oil markets both in supply and demand, UAE energy minister Suhail al-Mazrouei told Asharq TV on Saturday. He said this was due to European sanctions on Russian crude taking effect in addition to China lifting its “zero-COVID” policy. OPEC production capacity was down 3.7 mln bpd due to fewer investments in the oil sector, Al-Mazrouei said. He also said UAE is taking preemptive steps to compensate for the reduced oil production capacity in some countries by bringing forward its five million barrel per day oil production capacity expansion to 2027 from a previous target of 2030. thearabweekly.com

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