United Arab Emirates' Sultan bin Saeed al-Mansouri speaking earlier today
- $80 per barrel is seen an ideal price as the world economy moves to higher growth
" The Minister of Energy looks at $80 as the ideal price as we go to the next phase"
- The world can not afford to let oil stay at its current level
"We could see a pick-up in China and some other parts of the world"
- The UAE had substantial funds that were invested internationally, returns on these would make up for fluctuations in oil prices
Since these comments there is a header just hitting the wires that the UAE's economic development head sees oil at $60 per barrel next year
I still say they're talking their book and somewhat/hugely over-optimistic on global economic growth
I'm heading away again now. Enjoy the rest of your week-end one and all
UAE's Al- Mansouri seeing a barrel half full not half empty
