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Reuters
United Arab Emirates Minister of Energy Suhail Al Mazrouei
UAE Energy Minister Suhail Al Mazrouei is eager to reassure the energy markets about oil supplies after Saudi Arabia's production was reduced by almost half due to attacks on its oil facilities.
Al Mazrouei said today that his country had sufficient oil production capacity to cope with a possible supply disruption after the attacks, but stressed that it was too much early to convene an emergency meeting of the Organization of Petroleum Exporting Countries.
The UAE Energy Minister said that if Saudi Arabia, the world's largest oil exporter, called for an emergency meeting of the organization, "we we will take care of it. "
Oil facilities in Saudi Arabia were attacked on Saturday, affecting 5 percent of oil supplies and pushing oil prices up about 20 percent, the biggest increase in 28 years.
Source: Reuters
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