ABU DHABI, Jan 16 (Reuters) - The United Arab Emirates' energy minister Suhail al-Mazrouei said on Monday that oil markets were balanced.

"I believe the market is quite balanced, that's what we see in the oil market," Mazrouei told reporters. "In the gas market it's not, that's why we see fluctuation in the gas market." (Reporting by Rachna Uppal; Editing by Jan Harvey)