“Let’s calm down the oil market,” say Riyadh and Abu Dhabi

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The Ministers of Energy of Of Saudi Arabia and of United Arab Emiratestwo of the largest oil producers in the world, said today that their countries they have done their part to balance crude markets.

“We have a mission and a unique mission that stabilizes the market. “So we can not politicize or bring politics into the organization by having this debate; our goal is to calm the market,” the UAE energy minister told a conference. Suhail al-Mazroui.

The Gulf countriesclose allies of the US, are its members Organization of Petroleum Exporting Countries (OPEC) as well as the OPEC + alliance, which includes OPEC and other major producers such as Russia and Mexico.

The OPEC + alliance has accepted increasing pressures to pump more slowly since Russia, OPEC + ‘s largest producer, invaded Ukraine on February 24 and Western countries retaliated by cutting Russian oil exports.

Mazroui said the group is trying to find as much oil as possible.

“If we ask someone to leave, then we raise prices, then we do something that is against what consumers want,” Mazroui said when asked about the case. rejection of Russia as a member of OPEC + due to the invasion of Ukraine.

“If a country decides unilaterally, or two or five countries, they all have the right to choose from which sources to buy, but we can not decide for all the countries of the world and say you can not buy these barrels.

The Minister of Energy of Saudi Arabia Prince Abdulaziz bin Salman stated that the Russia produces enough oil every day which is equivalent to about 10% of world consumption.

Prince Abdulaziz has said that if the security of oil supplies is threatened, then the world economy will suffer. “Security is a priority right now and some countries are forgetting whether energy is affordable,” he said.

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