UAE Energy Minister Suhail Mohamed al-Mazrouei at the World Economic Forum
OPEC+ unity critical for oil industry
UAE energy minister warns oil sector of the chaos that may ensue without OPEC+ market management
The multifaceted market management from OPEC and its allies has faced much criticism over the lack of singular action. There is now the original OPEC, the expanded OPEC+ and the voluntary group within that has provided additional production cuts. But UAE Energy Minister Suhail al-Mazrouei warned the oil market of an alternative world without the balancing efforts of the group. "OPEC+ has sacrificed more than others, but the critical element is that it is staying together," Mazrouei said at the Gulf Intelligence Energy Markets Forum in Fujairah. "I would like you to imagine the world without this group. We would be in chaos," the OPEC minister added. The existence of various OPEC-related
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