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Rome: The oil market remains sufficiently supplied with crude, Mohammad Bin Dha'en Al Hamili, UAE Minister of Energy, told reporters on Saturday.
"The market is adequately supplied," he said on his arrival in Rome for the two-day International Energy Forum which starts on Monday.
Meanwhile, Saudi oil minister Ali Al Naimi told industry newsletter Petro-leum Argus that the country has no plans to embark on further capacity expansion as long-term oil demand forecasts fall and alternative fuel supplies rise.
The country sees no need to go beyond its 2009 capacity target of 12.5 million barrels per day "at least up to 2020," he said.
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