Al-Marsad newspaper: The UAE Minister of Energy, Suhail Al-Mazrouei, stressed that there is no alternative to Russian oil unless there is a country that can produce 10 billion barrels, noting that Moscow is an important member of the “OPEC +” alliance, as he said at the “Atlantic Energy Council” forum on Monday. .
Al-Mazrouei said: “The “OPEC +” alliance is continuing, and we must not allow politics to interfere with it.” He continued: “Russia is an important member of the OPEC + alliance, and away from politics, this weight is required today.”
The Emirati minister added, “We do not see that anyone can compensate for Russia’s presence unless it is ready to produce 10 billion barrels.”
Al Mazrouei added, “We are investing and raising our production to 5 million barrels, and we used to say that when others were saying, ‘You shouldn’t invest.’
The Emirati minister explained, “But the matter does not mean that we will leave the “OPEC +” alliance, or that we will take a unilateral action, but we will work with this group to ensure the stability of the markets.”