UAE's Commitment to OPEC+: Stabilizing the Global Energy Market

The United Arab Emirates, under the guidance of Energy Minister Suhail Al Mazrouei, asserts its strong commitment to OPEC+, consumers, and the global energy market amidst media speculations. Highlighting the 'great 8' nations, which include Saudi Arabia and Russia, the UAE emphasizes its role in voluntary production cuts to stabilize market conditions.

Reuters | Updated: 06-06-2024 12:49 IST | Created: 06-06-2024 12:49 IST
UAE's Commitment to OPEC+: Stabilizing the Global Energy Market
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The United Arab Emirates has been committed to OPEC+, consumers and the market despite some media reports suggesting otherwise, energy minister Suhail Al Mazrouei told a panel in Russia's St. Petersburg on Thursday.

"I would call them the 'great 8', have been sacrificing these additional voluntary cuts to stabilize the market. UAE has been committed to this group, committed to the consumers and the market," he said referring to the group of countries including Saudi Arabia, Russia, Algeria, Kazakhstan, Kuwait, Oman and Iraq.

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