UAE intends to continue following the efforts of Saudi Arabia, which are aimed to stabilize the oil markets, said Suhail Al Mazrouei, UAE’s Minister of Energy and Industry, according to Gulf News.

Al Mazrouei, who is the current President of Organization of the Petroleum Exporting Countries’ (OPEC) conference, praised efforts exerted by Saudi Arabia’s Minister of Energy, Industry and Mineral Resources, Khalid Al-Falih, during his presidency of OPEC in 2017, Hellenic Shipping News reported.

“We are now set to initiate innovative efforts to deliver the future and build on the Declaration of Cooperation reached by OPEC and non-member states last year to secure the sustainable development goals,” Al Mazrouei stated.

“We will continue in OPEC to closely watch the market in collaboration with our non-member partners and we will spare no effort to reach the state of market stability aspired by both producers and consumers,” he added.