The United Arab Emirates’ energy minister Suhail al-Mazrouei said on Monday that additional voluntary cuts by the OPEC+ producer group were implemented to balance the oil market.

Mazrouei, who briefed reporters on the sidelines of the World Utilities Congress, said he was concerned about future supply shortages due to low investment.

The United Arab Emirates’ energy minister Suhail al-Mazrouei said on Monday that additional voluntary cuts by the OPEC+ producer group were implemented to balance the oil market.

Mazrouei, who briefed reporters on the sidelines of the World Utilities Congress, said he was concerned about future supply shortages due to low investment.
Source: Reuters (Reporting by Maha El Dahan Writing by Ahmad Ghaddar in London; Editing by Kevin Liffey and Louise Heavens)