Comments overnight from the United Arab Emirates' Minister of Energy and Infrastructure Suhail Mohamed Mazrouei:

  • efforts by OPEC+ oil producers to boost output are "not encouraging"
  • noted the group was currently 2.6 million barrels per day short of its target

Sees higher oil prices in the pipeline due to the supply constraints and, on the demand side:

  • "The risk is when China is back"

Mazrouei was speaking at an energy conference. He wasn't doing this but he is on the inside:

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