Tuesday , May 17 2022

Al Mazrouei: The UAE is a dedicated member of OPEC – the economy – the local market


His Excellency Suhail bin Muhammad Faraj Faris Al Mazrouei, Minister for Energy and Industry, confirmed that the UAE has always been a committed member of the “OPEC” group, and demonstrated this through its commitment to the current OPEC + agreement to reduce oil supplies.

Al Mazrouei said: As a trusted and long-standing member of OPEC, the UAE has always been open and transparent in its decisions and strategies to support OPEC.

Al-Mazrouei called on the rest of the countries to make a full commitment to reducing productivity, noting that there are many variables outside the supply and demand process and achieving global market balance, including the economic negotiations America and China, which have a major role in determining the volume of oil demand next year, emphasizing that they are reaching a settlement. The pleasant will lead to clarity in the scene over the next two years, 2020-2021.


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