UAE minister happy with oil market

Suhail bin Mohammed al-Mazroui

The UAE Minister of Energy, Suhail bin Mohammed al-Mazroui has expressed his satisfaction with the state of things at the oil market.

He said on Tuesday that he was happy with the oil market, noting that prices had been correcting higher.

According to him while speaking to Reuters, he said, “We are optimistic. We are seeing that the market is correcting upward”.

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Oil ministers from the Organization of the Petroleum Exporting Countries (OPEC) met on Thursday in the Austrian capital.

Oil prices rose on Tuesday, heading for the fourth straight monthly gain, with investors betting on higher U.S. fuel demand as peak driving season arrived in the No. 1 oil consumer.

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