UAE energy minister: OPEC+ faces oil market volatility in both supply and demand – Reuters

UAE energy minister: OPEC+ faces oil market volatility in both supply and demand – Reuters

CAIRO, Jan 14 (Reuters) - 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.