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UAE oil minister says demand for energy peaking, emphasises need for market equillibrium.

The demand for energy, particularly natural gas, is peaking, said Suhail Mohamed Al Mazrouei , the oil minister of United Arab Emirates on Thursday, emphasising the importance of maintaining market equilibrium.

The minister, speaking on the margins of a Moscow energy summit, also stated that the UAE had spare oil production capacity.

Unless sufficient investment is undertaken, the global oil market is vulnerable to the kind of volatility that the gas market is currently experiencing, he added.




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