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FinancialNews
29-03-22
UAE: Opec+ operations have to be in separation from politics
(MENAFN) According to UAE’s Minister of Energy and Infrastructure, Suhail Al Mazrouei statement, the UAE is going to operate within the agenda of the Opec+ group to guarantee the steadiness of the energy market and the alliance’s oil output schemes have to remain independent of politics.
Based on Mr Al Mazrouei statement in the 2022 Global Energy Forum on Monday, the UAE is making investments in its energy infrastructure with the goal of increasing its capacity to 5 million barrels for each day, however this does not denote it is going to exist Opec+ or act separately.
“We as a country are trying to do our best. We are investing and raising our capacity to 5 million barrels, we said this when people said you should not invest and we were wise to do that because now we are seeing the need for that but it does not mean that we are going to leave Opec+ or do something unilaterally,” he stated. “We will work with this group to ensure that the market is stable.”
MENAFN29032022000045013568ID1103929413
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