UAE Oil Min: Comfortable With Oil Market, Inventories Up

UAE Oil Min: Comfortable With Oil Market, Inventories Up
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Τετ, 9 Σεπτεμβρίου 2009 - 19:39
United Arab Emirates oil minister Mohammad al-Hamli said Wednesday OPEC's quotas compliance could be better, but the UAE is comfortable with the oil market at present.
United Arab Emirates oil minister Mohammad al-Hamli said Wednesday OPEC's quotas compliance could be better, but the UAE is comfortable with the oil market at present.

"Compliance can be better, we would like to see normal compliance but we are comfortable with the market at the moment," he told reporters.

He added inventories are higher than normal.

"Normally they are 52 days cover but now inventories are higher than normal," he said.

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