UAE eyes $80/b oil price as it lowers 2016 budget

摘要

An oil price of $80/b would be “ideal” as the global economy moves towards higher growth, the UAE’s minister of Economy, Sultan al-Mansouri said Sunday as his government approved a lower federal budget for 2016. Anticipating a pickup in the global economy in the second half of 2016, Mansouri told journalists in Abu Dhabi the world could not afford to let oil stay at the current level of around $50/b.