UAE stabilising influence on markets

The Akhbar Al Sa'a (News of the Hour) bulletin has confirmed United Arab Emirates position on the global energy map by adjusting the movement of prices and securing the terms of the stability of the global economy. Under the title "Emirati oil policy balanced ", the bulletin said the role of the UAE is no longer limited to just being a major producer of oil and energy sources and its distribution to global market. Indeed, the role far exceeds this level and shifted decades ago to be one of the countries with a pivotal role in ensuring global energy security. The bulletin issued by The Emirates Centre for Strategic Studies And Research explained that this role was due in a large part to the nature of the balanced energy policies pursued by the UAE which seeks to achieve a number of objectives. It primarily seeks to ensure national energy security and take into account the conditions of sustainable development and associated environmental and human balance for future generations. The country aims to meet the requirements of the stability of world oil markets. The bulletin stated that through these policies, the UAE has achieved many successes that exceed the range limits of the conventional energy sector and expand to the sector of new and renewable energy, which has witnessed extensive development over the past decades making it one of the world's most valuable investments in order to diversify energy sources away from oil and other fossil fuels, which is a role model to meet the future requirements of energy security and stability around the world. The Japanese Prime Minister, Shinzo Abe, on the sidelines of his recent visit to Abu Dhabi, asserted the importance of the role played by the UAE currently in stabilizing the world in the field of energy. He noted that the opportunities for cooperation in the energy field of both traditional and non-traditional fuel sources has great potential. Akhbar Al Sa'a ( News Hour Bulletin) added that because these statements have been issued by a senior official in Japan, one of the major consuming countries for energy at the global level, they are considered conclusive evidence of the important role played by the UAE on the global energy map. Its policy in the field of energy has already become a cornerstone of the stability of global energy markets and associated variables, especially when it comes to the performance of the general global economy which has become more volatile since the beginning of the financial crisis and is sensitive to any changes in those markets. Oil prices rose to record levels in 2008, which was one of the factors that precipitated the outbreak of the financial crisis. Therefore, these energy policies are one of the most important factors of stability or disorder in the performance of the global economy. In conclusion, the bulletin affirmed that the oil policies pursued by the UAE in the context of its membership of OPEC played an important role in controlling the movement of prices at the beginning of the crisis. In securing the terms of the stability of the global economy, they still play the same role now and will continue to do so in the future.