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U.A.E. Sees OPEC Oil Capacity ‘Buffer’ Offsetting Iran Sanctions

  • Saudis, Kuwait, U.A.E. have enough spare capacity: Mazrouei
  • Trump plans for Iran sanctions may hurt country’s oil output
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Al Mazrouei discusses how the Iran sanctions may impact OPEC.Source: Bloomberg
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OPEC has enough spare production capacity to cushion oil markets as the U.S. re-imposes sanctions on Iran, according to United Arab Emirates Energy Minister Suhail Al Mazrouei.

Three members of the Organization of Petroleum Exporting Countries -- Saudi Arabia, Kuwait and the U.A.E. -- together have enough capacity, Al Mazrouei said in an interview with Bloomberg Television in Abu Dhabi. He serves this year as OPEC’s president.