The price limitations on Russian crude oil have had no impact on the oil market, according to UAE Energy Minister Suhail al-Mazrouei, who was speaking on the sidelines of the Atlantic Council’s Global Energy Forum in Abu Dhabi over the weekend.
The market is rather solid, and we believe our choices were wise ones and a sign of the stabilization we are witnessing.
“Hopefully, the demand will increase now that China is opening, and in our meeting, we will assess it as normal. We constantly make choices that help keep the market in balance.
“No remarks on how the price cap and sanctions might effect Russian oil volumes moving ahead.”
These elements are beyond of our control and are external.
