Trio backs Saudi-Russian oil pact

DOHA, September 6, 2016 – The UAE, Kuwait and Qatar over the past 24 hours have all expressed support for the Saudi-Russian initiative announced on Monday to jointly work to stabilise oil prices.

Taking to social media, UAE Minister of Energy Suhail Mohamed Faraj Al Mazrouei said that the UAE – through its OPEC membership – would always lend support to efforts to stabilise the markets. Kuwaiti acting Oil Minister and Deputy Prime Minister Anas Al Saleh also welcomed the Saudi-Russian pact, saying the Gulf state would back initiatives deployed by the duo.

Mohammed bin Saleh Al Sada, Qatar’s minister of energy and industry, on Monday said that Saudi Arabia and Russia teaming up was of great significance for the industry, adding that Qatar would continue to do its part in helping the global markets find an equilibrium.

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