Rolling coverage of the latest economic and financial news, as Opec+ pauses oil output hikes beyond December amid fears of a crude glut
The United Arab Emirates’ energy minister has predicted that growth in AI data centres will lift oil demand in 2026.
Asked about the possibility of an oil glut in 2026, at the ADIPEC energy conference in Abu Dhabi, Suhail al-Mazrouei repled:
“I think all of what we are seeing is more demand.”
Mazrouei pointed out that energy investments are needed because artificial intelligence and data centres require more power, pointing out (via Reuters):
