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Fuel Prices In The UAE Are Expected To Surge Higher In The Coming Months
It’s all a game of demand VS supply.
And right now, mankind is in the midst of an energy shortage crisis.
At a conference on Wednesday in Jordan, the Minister of Energy Suhail Al Mazrouei revealed that “with the pace of consumption we have, we are nowhere near the peak because China is not back yet.”
Until recently, China was seeing a massive lockdown as a result of a spike in COVID-19 cases. Hence, now as the country of 1.4 billion sees an easing of restrictions – it’s only coherent that the demand for fuel will pick up.
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Al Mazrouei disclosed stats on the shortage of gas, saying that “we’re lagging by almost 2.6 million barrels a day, and that’s a lot”
The report also publicises the fact that a lot more investment is needed from across the globe for the Organisation of Petroleum Exporting Countries (OPEC+), to meet pre-pandemic level demands.
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