Excerpts from the speech of H.H. Sheikh Khalifa bin Zayed Al Nahyan, President of UAE in the 12 members meeting of the Organisation of the Petroleum Exporting Countries (Opec) held in Riyadh on 18th November.
I would also like to commend Opec's role and policy aimed at maintaining the interests of producers and consumers alike, as well as maintaining stability in the world oil market.
The fast growing energy consumption world-wide, the high taxes that are imposed upon oil in consuming countries, reaching 100 percent in some states, the oil market speculations and the fact that some producing countries have turned to imports due to decline in their oil stocks, have all contributed to the increase of oil prices. Therefore, we call for developing clean, safe and reasonably priced alternative sources of energy to ease the burden on producing countries.
We, in the United Arab Emirates, have always maintained our co-operation with Opec. We are committed to supplying the world oil market to drive human development.
Comments
Comments are closed.