 The UAE’s energy minister, Suhail Bin Mohammed Al-Mazroui, has called on non-Opec producers to refrain from raising their production levels in 2015, in an attempt to regulate the market and stabilise prices.
“We invite everyone to do what OPEC did and take a step to balance the market through not offering additional products in 2015, and if everyone abides by (the) OPEC decision, the market will stabilise and it will stabilise quickly,” Suhail Bin Mohammed al-Mazroui told reporters on the sidelines of a meeting of ministers of the Organisation of Arab Petroleum Exporting Countries (OAPEC) in Abu Dhabi.
Al-Mazroui also reiterated that Opec’s decision not to cut its own production levels was not politically motivated.
“There is no conspiracy, there is no targeting of anyone. This is a market and it goes up and down,” he said.
