Suhail bin Mohammed Faraj Fares Al Mazrouei, Minister of Energy and Industry, affirmed the UAE's continued commitment to the OPEC agreement and non-OPEC countries in order to achieve balance and stability of the global oil market.
The Minister of Energy and Industry, in statements on the sidelines of the opening press conference of the twenty-fourth World Energy Conference, expressed confidence that OPEC + will continue its commitment to production levels that achieve market balance.
He stressed the UAE's commitment to support measures that help to stabilize and balance the global oil market.
He added that OPEC's decisions are based on analyzing and reviewing the situation of the global oil market and making the necessary recommendations that contribute to maintaining the balance and stability of the market.
Al Mazrouei said: "There are concerns in the global oil market outside the supply and demand due to geopolitical effects and tensions between the major economies in the world, which would affect the oil market."