(Bloomberg) — Oil-production limits adopted by a group of major crude suppliers will soon bring prices back to “normal,” according to the energy minister of the United Arab Emirates.When markets were collapsing as the coronavirus pandemic crushed demand in March and early April, the idea that crude could rise again to $40 a barrel was “a dream,” the UAE’s Suhail Al Mazrouei said during a conference call on Monday. That was before the OPEC+ alliance agreed unprecedented cuts in output.Prices could return to “normal” within a year or two as curbs approaching 10 million barrels a day drain excess barrels …read more
Source:: Yahoo Finance
