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UAE to maintain stability in world oil market: Gargash

Wednesday, 22 February 2012 | 00:00
The UAE is committed to maintaining stability in world oil markets, Minister of State for Foreign Affairs Dr Anwar Mohammed Gargash said, but added that this goal would only be possible through stable trade policies and partnerships and balanced demand and supply equation.
“Such stability is also achieved through more investment in this sector so as to create a long-term equilibrium,” Dr Gargash was quoted by the Qatar News Agency while he was speaking at the Symposium on Energy Summit Brookings Doha Centre.
The minister outlined the UAE’s role in boosting efforts towards international oil market stability, as one of the world’s major crude oil exporters. Dr Gargash stressed the importance of cooperation between the UAE and its partners to keep the global crude market stable.
He said the UAE adopted a strategy to diversify its energy mix and motivated by shortage of gas and other sources of energy, it has founded the Emirates Nuclear Energy Corporation to meet growing demand for energy through use of nuclear energy for peaceful uses.
Source: WAM
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