Abu Dhabi - Mubasher: UAE’s minster of Energy Suhail Al Mazrouei expressed on Saturday his satisfaction with the current status of the Organization of the Petroleum Exporting Countries (OPEC), saying on Twitter that the OPEC current market share is at good level.
"We acknowledge and understand the market challenges but in my view our sector is resilient to overcome it and achieve stability soon, but I believe that any future decision will require full participation from all members plus major oil producers," Al Mazrouei said.
“UAE, with its leadership vision, is putting action plans for an economy that will depend less on oil revenues, a plan that others can follow” the minister added.
In July, The International Energy Agency said that the current oil global reserves impose a threat to current stability in prices, despite growing demand and the decrease in non-OPEC oil production.
