UAE Minister of Oil: Energy demand is peaking and we have production capacity in excess

UAE Minister of Energy Suhail Al Mazrouei said on Thursday that the demand for energy, in particular of natural gas, is peaking, adding that it is important to maintain a balance in the market.

The minister, speaking on the sidelines of an energy forum in Moscow, also said that the UAE has unused oil production capacity.

For his part, the Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Muhammad Barkindo, said in statements to reporters on the sidelines of the same event, that uncertainty about the Covid-19 pandemic continues to affect the oil market. , as reported by “Reuters”.

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