OPEC member calls for calm after U.S. pressure to pump more oil


The United Arab Emirates’ energy minister on Wednesday defended OPEC and its allies’ decision to not increase oil supply to the market, despite U.S. pressure to pump more.

“I would encourage people to calm, trust us,” Suhail al-Mazrouei told CNBC’s Hadley Gamble from the Adipec energy forum in Abu Dhabi.

Al-Mazrouei said he has received calls from different countries’ ministers asking him to take action, but added that OPEC intends to “follow the facts.”

He pointed to EIA predictions that suggest an oil surplus in the first quarter of next year.

“In 2022, we expect that growth in production from OPEC+, U.S. tight oil, and other non-OPEC countries will outpace slowing growth in global oil…


0 0 votes
Article Rating

Amazon to stop accepting Visa credit cards issued in the UK

Previous article

Car lease ending soon? Another one may not be your best option

Next article

You may also like

Notify of
Inline Feedbacks
View all comments

More in Energy