UAE Energy Minister: OPEC+ Never Targets a Specific Oil Price

UAE Energy Minister Suhail Al Mazrouei stated today, Monday, that "the OPEC+ alliance never targets a specific oil price," in response to a question about the risks of rising prices on the strength of the global economy. He explained that OPEC+, as a producer alliance, is concerned about "having a price that is suitable for consumers, but the suitability of the price for consumers for a very limited period is short-sighted." He pointed out that "more investments in the oil and gas sector are needed."