The UAE Minister of Energy and Infrastructure, Suhail bin Muhammad Al Mazrouei, stressed the importance of the pivotal role played by OPEC and the OPEC + alliance to serve the interests of producers and consumers and promote sustainable investment in the energy sector.
Al Mazrouei said that joint teamwork is always a source of greater positive results and a pillar of strength for cooperation and unity, noting that the main objective of OPEC is based on ensuring market stability and achieving a balance between demand and supply in a way that supports global economic growth.
This came during the celebration of the 60th founding of OPEC, which was held Friday in the Iraqi capital, Baghdad.
The minister said that Iraq's hosting of the celebration of the 60th anniversary of the founding of the Organization of Petroleum Exporting Countries (OPEC) in Baghdad is an affirmation of strengthening and consolidating the spirit of joint action to achieve stability in the global oil market.
OPEC is an international organization that was founded in the historic Baghdad Conference that was held on September 10-14, 1960, in the presence of the oil ministers of the Islamic Republic of Iran, the Republic of Iraq, the State of Kuwait, the Kingdom of Saudi Arabia, and the Republic of Venezuela. The organization has grown since then to include in its membership today 13 producing countries. for oil.
