There are "no signs" of a shortage in the oil supplies.
That's according to UAE Minister of Energy and Industry Suhail bin Mohammed Faraj Faris Al Mazrouei, who remained optimistic that the Organisation of the Petroleum Exporting Countries (OPEC) are capable of meeting global demands.
"We do not expect any shortage unless there is a major escalation, which we don't foresee," he said on the sidelines of the energy forum organised in New York University Abu Dhabi.
Meanwhile, OPEC Secretary-General, Mohammad Sanusi Barkindo said Iraq continues to produce oil, adding that the surplus production capacity of oil is between 3 million to 3.5 million barrels per day approximately.
Barkindo said the expectations of global demand growth are at about one million barrels per day, and "this is not a cause for concern".
He stressed that OPEC and its allies continue to keep oil markets stable on a sustainable basis and this is a shared responsibility of all producers, including the US.
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, has approved plans to create 178,000 jobs and aims to attract 39.3 million tourists.
Sam Bankman-Fried has been sentenced to 25 years in prison for stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange he founded, the last step in the former billionaire wunderkind's dramatic downfall.
Sam Bankman-Fried, the former billionaire cryptocurrency wunderkind, is set to be sentenced on Thursday over his conviction for stealing $8 billion from customers of the now-bankrupt FTX exchange he founded.
ADNOC has announced the start of crude oil production from its Belbazem offshore block, which is operated through a joint venture with China National Petroleum Corporation (CNPC), called Al Yasat Petroleum.
Shares of Donald Trump's Trump Media & Technology Group surged as much as 59 per cent on Tuesday in their Nasdaq debut, lifted by the former US president's supporters and providing him a potential windfall as he grapples with the costs of several legal cases.