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Any attempt by U.S. shale and other oil producers to boost output this year will probably backfire and lead to lower prices, according to the energy minister of the United Arab Emirates. With demand still fragile, they “are wise not to jump the gun and overproduce during the recovery year” Energy Minister Suhail Al Mazrouei said speaking exclusively to Bloomberg’s Manus Cranny at the forum for Gulf Intelligence.

UAE Warns US Shale Companies Against Pumping More Oil

Any attempt by U.S. shale and other oil producers to boost output this year will probably backfire and lead to lower prices, according to the energy minister of the United Arab Emirates. With demand still fragile, they “are wise not to jump the gun and overproduce during the recovery year” Energy Minister Suhail Al Mazrouei said speaking exclusively to Bloomberg’s Manus Cranny at the forum for Gulf Intelligence.

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