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OAPEC Member Countries
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Al Sada:
Current oil prices not
good for the world
economy
ﹺ
Al Mazrouei:
Freezing of production
contributes to balancing the
world’s supply and demand
Al Saleh:
Kuwait hopes the deal would
pave the way for a positive
atmosphere in the market
Abdul Mahdi:
It is important to focus on
narrowing the gap between
supply and
Al Sada said he would lead
discussions in his capacity as
Qatar’s Energy and Industry
Minister and the Chairperson
of the current session of
OPEC, with the support of
the four ministers in order to
talk to OPEC and non-OPEC
countries. Once approved, the
proposal will be implemented.
He said that the market will
be under close observation to
assess the situation.
Immediate
responses
followed the declaration of the
agreement, as some OAPEC oil
and energy ministers welcomed
the positive outcome of the
Doha meeting while stressing
their countries were ready to
contribute to reach stability in
the oil market.
Algeria’s Energy Minister
HE
Saleh
Khebri
called
upon OPEC to
adopt the Oil
output freezing
decision
for
a
maximum
of 5 months .
He clarified that his country
supported all aiming at
balancing the oil market again.
Kuwait’s
Deputy
PM,
Finance Minister, and Acting
Oil Minister
HE
Anas Al
Saleh
said Kuwait welcomes
the Doha deal and confirms
its commitment to what was
agreed – to freeze production
according to January 2016
levels – provided that the main
producers from OPEC and
outside OPEC are committed
to it. He said he hoped the
agreement would provide a
positive atmosphere to support
oil prices and balance the oil
market to serve the interests of
producers, consumers, and the
world’s economy in general.
United Arab
Emirates’
Energy Minister
HE Suhail bin
Mohammed Al Mazrouei
said
his country supports the Doha
oil producers’ freeze agreement
if all OPEC members and
Russia follow suit. This would
contribute to balancing the
world’s oil supply and demand.
On his part, Iraq’s Oil
Minister
HE Adel Abdul
Mahdi
said the agreement of all
countries- even for some time- to
freeze production will help oil
prices go up. He added that the
Doha meeting and the recent
round of meetings between
oil ministers had direct effects
on the oil price movement in
the world markets. He said
the commitment of OPEC
and non-OPEC producers
would help narrowing the gap
between the world’s oil supply
and demand.
OAPEC Ministers Welecome Positive Outcome of Doha Meeting