UAE oil minister says energy demand peaking, important to maintain market balance

The minister also said that the United Arab Emirates had spare oil production capacity

  
UAE Energy Minister Suhail bin Mohammed al-Mazroui speaks to the media before the OPEC 14th Meeting of the Joint Ministerial Monitoring Committee in Jeddah, Saudi Arabia, May 19, 2019.

UAE Energy Minister Suhail bin Mohammed al-Mazroui speaks to the media before the OPEC 14th Meeting of the Joint Ministerial Monitoring Committee in Jeddah, Saudi Arabia, May 19, 2019.

REUTERS/Waleed Ali

MOSCOW - Demand for energy and especially natural gas is peaking, the oil minister of the United Arab Emirates said on Thursday, adding that it was important to maintain balance in the market.

The minister, who was speaking on the sidelines of an energy forum in Moscow, also said that the United Arab Emirates had spare oil production capacity.

(Reporting by Vladimir Soldatkin and Olesya Astakhova; writing by Tom Balmforth; editing by Jason Neely) ((Tom.Balmforth@thomsonreuters.com))


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