UAE Dismisses Fears of Oil Glut

The United Arab Emirates doesn’t expect oversupply on the oil market as demand remains solid, the energy minister of one of OPEC’s top producers said on Monday. On Sunday, the OPEC+ producers, including the UAE, decided to pause their reversal of the production cuts in the first quarter of 2026, after a small increase in December. Citing “seasonality” and historically weaker demand in the first quarter of any year, OPEC said it would halt the production increases in January, February, and March. One of the OPEC+…