We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Mon 26 Oct 2009 10:07 PM

Font Size

- Aa +

Fundamentals not behind high oil price - Qatar

Qatar's Oil Minister says there is no global oil supply shortage at present.

A rise in oil prices is not linked to supply and demand factors, Qatar's oil minister said on Monday, adding that there was no supply shortage."I am confident the high oil price is not related to supply and demand ... not related to shortage," Abdullah bin Hamad al-Attiyah told Reuters.

Asked about the possible outcome of the December meeting of the Organization of the Petroleum Exporting Countries (OPEC), Attiyah said it was too early to predict.

Attiyah, also deputy prime minister of the Gulf Arab state, said there were signs that the global economy is improving. "There is some (signs) in the world economy ... (in) China, India ... growth has started again." (Reuters)

Arabian Business: why we're going behind a paywall

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.