ABU DHABI, (Pakistan Point News - 08th Sep, 2019) The Minister of Energy and Industry Suhail Al Mazrouei has re-affirmed the country's continued commitment to achieve global oil market balance and stability, in compliance with the OPEC and Non-OPEC Declaration of Cooperation.
Speaking at a press conference today, in the lead up to the opening of the 24th World Energy Congress tomorrow, Al Mazrouei expressed his confidence that OPEC will maintain production levels that achieve market balance. He also reiterated the UAE's commitment to support all measures that would help stabilise and balance the global oil market.
The UAE Minister noted that decisions at OPEC are taken following analysis and revision of the market and makes the necessary recommendations to maintain its balance and stability.
"There are factors - other than the forces of supply and demand - including geopolitical conditions and tensions between major economies of the world which have a direct impact on the oil market," he said.
