UAE Energy Minister Suhail Mohamed al-Mazrouei at the World Economic Forum
OPEC+ unity critical for oil industry
UAE energy minister warns oil sector of the chaos that may ensue without OPEC+ market management
The multifaceted market management from OPEC and its allies has faced much criticism over the lack of singular action. There is now the original OPEC, the expanded OPEC+ and the voluntary group within that has provided additional production cuts. But UAE Energy Minister Suhail al-Mazrouei warned the oil market of an alternative world without the balancing efforts of the group. "OPEC+ has sacrificed more than others, but the critical element is that it is staying together," Mazrouei said at the Gulf Intelligence Energy Markets Forum in Fujairah. "I would like you to imagine the world without this group. We would be in chaos," the OPEC minister added. The existence of various OPEC-related
Also in this section
28 March 2025
The Central Asian country is positioning itself as a low-carbon leader, but antiquated infrastructure and a dependence on Russia are holding it back
28 March 2025
MCEDD 2025 took place in Madrid this week with record attendance and a wide-ranging programme, reflecting the deepwater sector’s renewed momentum, strategic focus and accelerating technological innovation.
27 March 2025
Awards celebrate global innovation, leadership and achievement across the energy sector’s people, projects, technologies and companies.
26 March 2025
Well-functioning democracies are required for healthier economies and a thriving oil industry
