United Arab Emirates energy minister Suhail al-Mazrouei said that the only mission of OPEC+ is to stabilize markets and come up with as much supply as possible, and that squeezing any partner out of the oil alliance would only increase prices.

He said it was difficult to predict the future of market volatility, due to issues such as whether Iranian barrels would return to the market or if there will be more investment in the oil and gas sector.

Mazrouei said he believed that there will be growth in demand.
Source: Reuters (Reporting by Maha El Dahan, Riham Alkousaa and Yousef Saba; Writing by Nadine Awadalla and Ghaida Ghantous, Editing by Louise Heavens)