Crude oil price to stay volatile according to the head of Abu Dhabi National Oil

Oil markets will probably balance by the end of next year, prices rising in the medium term, according to Sultan Al Jaber, new head of Abu Dhabi National Oil.

Prices, which have swung between highs of about $42 a barrel and lows of about $27 this year, will continue to be volatile in the short term, Al Jaber said in an interview with Abu Dhabi dailies The National and Al Ittihad.

Al Jaber, named the company’s chief executive officer last month, expects “to see a slow but upwards improvement in prices in the medium term,” according to a transcript of his comments published in The National.