The U.S.-China commerce battle and booming American shale manufacturing are among the many prime worries for the United Arab Emirates’ vitality minister and former OPEC president. After a unstable yr for oil costs, hydrocarbon-exporting international locations are buckling down for what may very well be extra turbulence forward.
When it comes to geopolitical headwinds for 2019, “One is the potential of heated battle between China and america,” Suhail Al Mazrouei instructed CNBC’s Hadley Gamble on Wednesday. Mazrouei completed his time period on the helm of OPEC on January 1.
“We’re not taking part in with President Trump or some other president,” he stated.
I feel that is one basic, not solely affecting us however affecting the entire economics of the world. And I are typically… extra optimistic that we’re not going to see a battle. It is negotiation ways, they’ll finish on a decision, no matter it takes, this yr or subsequent yr.”