UAE’s Oil Minister: Gradual oil recovery expected in 2021, WTI battles $48
The UAE sees gradual oil recovery in 2021, Energy Minister Suhail Al-Mazrouei said in a statement on Thursday.
Additional comments
“UAE hopes more producers join the OPEC and its allies (OPEC+).”
“Vaccinations to improve the economy and renew energy demand.”
Market reaction
WTI is unimpressed by the upbeat remarks from the UAE’s oil minister, battling $48.
The US oil posts small losses so far this Thursday, retreating from near mid-$48 levels.