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ADIPEC 2023:
Under supply in oil market a bigger worry, says Al Mazrouei

Minister highlights lopsided distribution of investments within OPEC+ countries

Talking about the global economy’s resilience in the face of rising oil prices and increasing interest rates, the minister pointed out the necessity of maintaining a balanced market that appeals to investors. While this year has seen an uptick in energy investments, he cautioned against pushing production to its limits, risking a potential shortage of spare capacity. Such a scenario could trigger price volatility and supply disruptions. A key concern Al Mazrouei raised is the lopsided distribution of investments within OPEC+ countries. Although they collectively control 80 per cent of the world’s oil resources, they produce only 40 per cent. This glaring investment imbalance poses a grave risk to future energy supplies.

Published:  October 02, 2023 18:11

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