The United Arab Emirates called the decline in oil prices "politically motivated"
Berlin - Kyiv, December 22 (PolitNavigator, Vasily Ablyazimov) - The Minister of Energy of the United Arab Emirates called the political promotion of lower oil prices irresponsible, writes today Frankfurter Allgemeine Zeitung. Suhail Mohammed Al Mazrouei blamed the downgrade on “the non-OPEC country concerned.
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FAZ reports the words of the UAE minister, who is confident that such political pressure on the oil market will lead to significant economic damage to all energy producers. Suhail Mohammed Al Mazrui considers the reduction in oil prices, in which “a non-OPEC country” is interested, to be politically motivated. An influential Arab politician called these actions irresponsible.
The UAE Minister of Energy made this statement on Sunday at the energy forum in Abu Dhabi. At the same forum, Saudi Arabia's Oil Minister Ali al-Naimi said that he was "confident that the oil market is recovering and prices will soon begin to rise." At the same time, Ali al-Naimi said, Saudi Arabia is not going to reduce production volumes.
The German publication writes that there is also a large supply of oil on the world market in addition to production, which affects pricing. “Unexpectedly high US oil inventories contributed to lower oil prices. Russia, which is now struggling with sanctions imposed by the West due to the conflict in Ukraine, is also being negatively affected by lower prices,” writes FAZ.
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