CNBC reports comments from the United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui, delivered over the weekend during an industry event in Abu Dhabi.
Key Quotes:
OPEC producers are not targeting a certain oil price.
OPEC is focused on identifying the right level of oil inventory at its next meeting.
“What we are concerned about in the next meeting is what is the right level of inventory that we should see and can we put this group together for longer.”
“Don’t worry about supply,” when asked about the impact on oil supplies from US sanctions on Iran, adding that this was not the first time an OPEC member had been in such a situation.
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