The energy minister of the United Arab Emirates said today that the global oil supply glut, which has led to a slump in crude prices, was almost gone, a news report said.
Suhail bin Mohammed al-Mazrouei was cited as saying by Reuters: “The glut is almost gone … I think we are at the bottom of this cycle… .”
He was speaking at the Abu Dhabi International Petroleum Exhibition and Conference.
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