UAE committed to OPEC+ support on oil market balancing

The United Arab Emirates is committed to support OPEC+ in achieving balance in the oil market, the state news agency WAM quoted Energy Minister Suhail al-Mazrouei as saying on Wednesday.

The country is planning to establish a power market platform aimed at facilitating the export of electricity, the news agency said.

The minister earlier in the day said that he was "not worried about the short term" when asked about predictions that oil prices will rise above $100.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)