UAE Energy Minister outlines Russia's significance in global OPEC+ energy alliance

United Arab Emirates Energy Minister Suhail Al Mazrouei on Monday asserted that Russia’s oil is significant to meet global energy requirements. He further stressed that the volume of oil provided by Moscow is irreplaceable unless someone comes forward to provide the amount of oil that is required to substitute Russia, reported AP. He called Russia an important member of the global OPEC+ energy alliance, citing its 10 million barrels of oil per day. Mazrouei made the remarks during his speech at the Atlantic Council's Global Energy Forum at the Dubai Expo 2020 being held in the United Arab Emirates. 

“And leaving the politics aside, that volume is needed today,” Suhail Al Mazrouei said as per AP. 

“Unless someone is willing to come and bring 10 million barrels, we don’t see that someone can substitute Russia," Suhail Al Mazrouei added. 

The OPEC+ energy alliance led by Saudi Arabia and Russia has the capacity to increase oil production and lower the crude prices that had surpassed $100 a barrel, according to AP report. It is pertinent to mention here that the United States, European countries, Japan and many more nations have called on oil producers in the Gulf regions to contribute more efforts to reduce the prices of oil. The United Arab Emirates (UAE) Energy Minister Suhail Al Mazrouei underscored that the OPEC+ alliance will continue to stay and rejected the suggestions that UAE will expand its production unilaterally. He further stressed that they need to remain focused and together and not permit politics to enter the organization.

“Staying together, staying focused, and not allowing politics to kick in to this organization,"  Suhail Al Mazrouei said as per AP.

"We always believe that whatever we do as countries when it comes to production and to this work, it needs always to stay out of politics,” Suhail Al Mazrouei added. 

Suhail Al Mazrouei calls for keeping politics out of OPEC+

Suhail Al Mazrouei underscored that they have always emphasised that the countries are required to keep politics out of organization for the production, as per the AP report. In his speech at the Atlantic Council’s Global Energy Forum in Dubai, the UAE Energy Minister called for greater investment in oil and gas. The minister’s statement regarding increasing investment in oil and gas comes as his country is working towards reducing emissions within the UAE’s borders. Furthermore, Mazrouei stressed that diplomacy is needed to resolve the Russia-Ukraine conflict and not "pouring more weapons."