The United Arab Emirates (UAE) Ambassador to Washington, Yousef al-Otaiba, stated that they support oil production increases and will encourage the Organization of Petroleum Exporting Countries (OPEC) to consider higher production levels.
United Arab Emirates (UAE) Ambassador to Washington, Yousef al-Otaiba, stated in a written statement that the UAE has been a “reliable and responsible” energy supplier for global markets for over 50 years.
Stressing that the UAE believes stability in energy markets is critical to the global economy, “We support production increases and will encourage OPEC to consider higher production levels.” used phrase.
US Secretary of State Antony Blinken also stated that they welcome the UAE’s support for increasing oil production at the press conference held today.
“It’s important to stabilize global energy markets, ensuring that there are ample energy supplies around the world,” Blinken said. made its assessment.
After the news flow that the United Arab Emirates will call the OPEC+ group, which consists of OPEC and non-OPEC oil-producing countries, to increase production, oil prices fell as supply concerns eased.
The barrel price of Brent oil decreased by more than 13 percent to $110 as of 22.20 TSI. At the same time, a barrel of West Texas (WTI) crude oil was also sold at $108 with a decrease of more than 12 percent.
