United Arab Emirates Energy Minister Suhail al-Mazroui stated at an industry event on Monday that, leaving political issues aside, Russia is a vital member of the OPEC+ group and its oil contribution is irreplaceable in the current global energy struggle. Taking into account that almost every country has been faced with a natural decline in oil production, Al-Mazroui indicated that OPEC+ countries will continue cooperating and will not let political matters impact their joint functioning. The statement comes after Saudi Arabia last week underlined the “essential” role of the OPEC+ agreement in preserving the balance and stability of the global oil markets.
Saudi govt calls role of OPEC+ deal ‘essential’
The Saudi Arabia government reaffirmed the “essential” role of the OPEC+ agreement in the global process of preserving the balance and stability of oil markets, the country’s SPA news agency reported on Tuesday. The Saudi cabinet also called on the nations of the international community to assume great responsibility in taking good care of the energy supplies and pay close attention to Iran’s help to Yemen’s Houthi forces with provisions of missiles and military drones.