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Volume 41 Issue 12
9
OAPEC Member Countries
HE Dr Saleh Al Khabri:
Algeria’s
Energy
Minister HE Dr Saleh
Al Khabri called for
agreeing a formula
on oil pricing which
represents the interest
of all oil producing
countries
whether
OPEC or non- OPEC
members. He considered current prices as
not serving any party and would lead to
a drop in the size of energy investments
worldwide. He stressed that his country
spared no effort on agreeing a formula that
suits all oil producing countries.
HE Eng Ali Al Naimi:
Saudi Arabia’s Petroleum
and Mineral Resources
Minister HE Engineer
Ali Al Naimi stressed
that his country was
ready to cooperate and
coordinate with all oil
producing countries whether they were OPEC
or non- OPEC members in order to stabilize
the oil market. He explained that the world’s
increasing demand was able to absorb the
expected surge in Iran’s production in 2016. He
added that the market was open for all.
HE Adel Abdul Mahdi:
Iraq’s Oil Minister HE
Adel Abdul Mahdi said
that balancing production
in the oil market is a
collective responsibility
for all countries whether
inside or outside OPEC.
OPEC should not bear this responsibility
alone. He added “if non-OPEC producers had
no ceiling for their production why should
OPEC have a ceiling!”
HE Dr Mohammed bin Saleh Al Sada:
Qatar’s Energy and Industry Minister HE Dr
Mohammed bin Saleh Al Sada said there were
signs that production
was dropping outside
OPEC. He expected
that
production
outside OPEC will
continue to drop
next year due to the
drop in investments
this year. He hoped
that the low prices
would contribute to
supporting the global
economy.
HE Anas Al Saleh
Kuwait’sDeputy
Prime Minister and
Finance Minister
and Acting Oil
Minister HE Anas
Al Saleh said that
the stability of the
oil market was the
main concern for
OPEC
member
countries and not the current price levels. He
added that his country is coordinating policies
with other member countries and is keen
on maintaining the organisation’s role and
activities on balancing the market in a way
that guarantees the interests of both producers
and consumers.