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.
The $3.3 billion IPO of Hyundai Motor India, the country's largest yet, was fully subscribed on its final day on Thursday as institutional investors bid aggressively, though pricing concerns deterred retail investors.
The UAE and World Economic Forum (WEF) launched an integrated strategic intelligence platform that collates policy topics of strategic importance to the UAE into one place.
Nakheel, part of Dubai Holding Real Estate, has awarded three major contracts exceeding AED 5 billion for the construction of ultra-luxury villas on the first six fronds of Palm Jebel Ali, with completion expected by late 2026.
Singapore's air force mobilised two fighter jets late on Tuesday in response to a bomb threat on an Air India Express flight bound for the city-state, its defence minister said.