UAE minister: Oil market fairly well supplied

DUBAI, United Arab Emirates (AP) ? The United Arab Emirates' Energy Minister says he believes the oil market is "fairly well supplied" for now.

Mohammed bin Dhaen al-Hamli also told reporters Thursday that the UAE is satisfied with current oil prices. His comments suggest that OPEC's third-largest oil exporter does not see a need for urgent adjustments to oil output.

He spoke on the sidelines of an event to announce an upcoming energy conference in Dubai.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-07-19-Emirates-Oil/id-cf882871d2bb46178f9f4eafc2af8b95

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