The extreme volatility in the oil market in recent weeks is the result of some buyers boycotting certain crudes and is not connected with OPEC+, and is outside the alliance's control, according to one of OPEC's top producers, the United Arab Emirates (UAE). "Extreme volatility is not because of supply and demand, it's because some don't want to buy certain crudes and it takes time for traders to move from one market to another," the UAE's Energy Minister Suhail al-Mazrouei said at a conference in Abu Dhabi on Tuesday, as carried by Reuters.
The…UAE: Don't Blame OPEC+ For Oil Market Volatility
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