UAE energy minister says oil market ‘stable,’ eyes Chinese demand comeback

Sanctions and a price cap on Russian crude have not squeezed the oil market, which is “stable” at the moment, UAE energy minister Suhail al-Mazrouei said Jan. 14. In fact, OPEC and its allies are looking to a potential demand boost from China, when a key committee meets Feb. 1 to review the impact of the group’s production cuts on…