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OPEC+ decisions show understanding of oil market — UAE energy minister

The 9th OPEC International Seminar is being held on July 9-10 in Vienna

VIENNA, July 9. /TASS/. Decisions taken by the OPEC+ reveal that the alliance understands the condition of the oil market and its needs better than anyone else, Energy Minister of the UAE Suhail Al Mazrouei said at the 9th OPEC International Seminar.

"We understand the market. We understand what the market requires, and we make decisions to attain to those requirements," the minister noted. The voluntary oil production cut made by the OPEC+ was influenced by certain circumstances, he noted.

"Of course, it is understood that this cut is going to come back, this increase is going to come back to the market. At the right time. And I think we understand, or we have our own sources of understanding the demand," the minister added.

The 9th OPEC International Seminar is being held on July 9-10 in Vienna. TASS is the official media partner of the event.

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