U.S. role in the oil market still important under Biden: UAE minister

The U.S. will always play an important role in global energy markets, even though President-elect Joe Biden is likely to be less vocal than President Donald Trump about oil, the UAE’s energy minister told CNBC ahead of Inauguration Day.

“The United States of America is a major player now … with its production, with the fact that this industry that has been developed through shale oil and gas has created lots of jobs and created an economy by itself,” said Suhail al-Mazrouei.

That won’t change under a new U.S. president who is expected to focus more on renewable energy and less on oil, he said.