Jun 12 2012
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UPDATE: UAE Oil Minister Sees Oil Market Over-Supplied
Tuesday, Jun 12, 2012
(Adds detail in paragraph two)
By Hassan Hafidh
The oil market is a "little" oversupplied, the United Arab Emirates oil minister said Tuesday after arriving in Vienna for this week's OPEC meeting.
Asked how much he thinks the market is oversupplied, UAE oil minister Mohammad Al-Hamli said: "Around 1.6 million" barrels a day.
Mr. Hamli said the Organization of Petroleum Exporting Countries would need to review supply and demand data before taking action.
-Write to Hassan Hafidh at firstname.lastname@example.org
(END) Dow Jones Newswires
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