UAE is committed to working with Opec+, minister says

The UAE is committed to working with Opec+ partners to study the market and make decisions that will ensure the stability of the global oil market, a UAE minister has said.

Speaking on the sidelines of the World Governments Summit (WGS) 2024, Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said that the global oil market is vast and involves many variables and equations, including the geopolitical situations worldwide.

The ministry is currently working on upgrading the UAE's electric vehicle (EV) system by adding new stations and concluding more partnerships with major global companies to turbocharge the sector's growth, he said.

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"This will increase the number of EVs used in the UAE and reduce the carbon footprint of the transportation sector," Al Mazrouei said. "The ministry aims to set fair prices for the private sector to incentivise it to invest in fast-charging EV stations, establishing the UAE among the world's top countries in terms of EV infrastructure and speed of charging."