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End of US oil export ban will not affect market: UAE Minister

by ChemOrbis Editorial Team -
  • 23/12/2015 (12:19)
According to media reports, the United Arab of Emirates’ (UAE) Energy Minister, Suhail bin Mohammed al-Mazroui commented that the removal of a ban on US oil exports will not change the fundamentals of global oil markets. On December 15, the US Congress ended a 40-year ban on oil exports.

The Minister reported that the US’ move to lift the ban on oil exports would not change the supply demand balance and added that they hope to see some a more balanced market picture in 2016.
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