UAE energy minister: Oil prices to have 'correction' in 2016

Nov 09, 2015 - Business Insider

ABU DHABI, United Arab Emirates (AP) — Low global oil prices will have a "correction" in 2016, but it won't be solely OPEC that helps to raise prices that have dropped over 50 percent, the United Arab Emirates' energy minister said Monday.

The oil-rich Emirates will raise daily production to 3.5 million barrels in the coming years, Minister Suhail Mohamed al-Mazrouei said at the start of the Abu Dhabi International Petroleum Exhibition and Conference.

The Emirates currently produce...