Global markets have been soaking up the additional barrels OPEC+ has been producing since the spring without inventory builds, suggesting that the market needed the higher supply, according to Suhail al-Mazrouei, the energy minister of one of OPEC’s top producers, the United Arab Emirates (UAE). “You can see that even with the increases for several months we haven’t seen a major buildup in inventories, which means the market needed those barrels,” al-Mazrouei said on Wednesday, as carried by Reuters. This past weekend, the…
Rate This Article
