U.S. oil producers should tread carefully this year and avoid boosting production, which could lead to another price slump, the energy minister of the United Arab Emirates told Bloomberg in an interview. Producers “need to be careful not to flood the market,” Suhail al-Mazrouei said, noting that the wise thing to do this year would be to be patient with production growth plans.
“It’s not going to be easy to just go and build production, seeing the inventory levels where they are today,” the official added. The U.S.…UAE Tells U.S. Shale Producers Not To Rush To Restore Production
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