UAE oil minister: Oil market will regain its balance this year

SAUDI ARABIA (OBSERVATORY) –┬áThe world oil market will regain balance this year, UAE Energy Minister Suhail bin Mohammed al-Mazroui said on Tuesday.

“We have not yet reached that stage, but restoring the balance is taking place at a faster pace,” said Al Mazrouei, whose country currently heads OPEC, on the sidelines of the World Energy Forum in New Delhi. We will see the restoration of balance this year.”