 |
 |
 |
|
|
|
|
Rise in oil prices not decided by supply and demand - Al Hameli
Minister of Energy Mohammed bin Dha'en Al Hameli attributed the current rise in crude oil prices to reasons other than supply and demand and said that the price hike which reached US$100 pb is brought about by speculative elements, investment funds, geopolitical reasons as well as a number of other factors.
At a meeting with Japanese Minister of Economy, Commerce and Industry, Akira Amari, who is on a visit to UAE at the head of a high level delegation, Al Hameli assured that OPEC is monitoring the global oil market closely.
Al Hameli welcomed the Japanese minister and the accompanying delegation and hailed the relations between UAE and Japan in various avenues, especially in the field of energy. He stressed that UAE is keen to bolster these relations in the best interests of both the countries. During the meeting they also discussed ways for enhancing cooperation between UAE and Japan in the field of energy.
- Emirates News Agency, WAM
MidEast.RU, January, 08th 2008
Back to the section
|
|
 |
|
 |
