UAE energy minister says OPEC not targeting a certain oil price

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OPEC producers are not targeting a certain oil price, United Arab Emirates Energy Minister Suhail bin Mohammed al-Mazroui said on Sunday, speaking at an industry event in Abu Dhabi.

Mazroui, who holds OPEC’s presidency this year, said he is worried about the level of oil investment in 2019 and 2020.

Brent crude surpassed $77 a barrel last week after Washington withdrew from an international nuclear deal with Iran.

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