The OPEC+ alliance is doing a noble job in balancing the oil market even if it does not produce the majority of the world's oil, UAE Energy and Infrastructure Minister Suhail Al Mazrouei said on Wednesday.
OPEC+ has sacrificed more than others, but the crucial element is for the group to remain united, Al Mazrouei added during an event in the emirate of Fujairah.
The UAE Energy Minister said: There is concern about supplies in the medium and long term.
Asked about 2025 expectations, Al Mazrouei said: “I do not comment on the short term.”
If there is one thing to worry about, it is the level of investment in oil and gas, which I do not believe meets the medium and long-term needs of the entire world, according to statements by the UAE Minister of Energy, Suhail Al Mazrouei, who stressed that without investments, whether in the source, in oil refineries and trade, we will be facing a stifling crisis.
