DOW JONES

NEW DELHI

QATAR’S energy and industry minister said on Monday that there isn’t any shortage of crude oil globally and that Qatar is producing at its peak capacity of 720,000-730,000 barrels a day, as well as nearly an equal amount of condensates.

“There is no shortage in terms of supply anywhere in the world but there are other factors in play,” Mohammad bin Saleh al Sada told reporters.

“When it comes to price, there are so many elements not specifically related to demand and supply,” the minister said, without elaborating.

The Qatari minister was speaking on the sidelines of an event to celebrate the founding of Petronet, India’s largest LNG importer by volume.