The United Arab Emirates insisted last Tuesday on a dialogue between oil producers and consumers to serve the interests of both parties.
The UAE's Supreme Petroleum Council in charge of oil affairs "underlined the importance of dialogue between oil producers and consumers to achieve the interests of both and contribute to international economic development," the official news agency WAM reported.
The council also hailed the resolutions of the OPEC summit in Caracas last week and said they would have "important repercussions on cooperation between the cartel's member countries".
OPEC leaders pledged to work for fair and stable prices and called for talks "at the highest level" with consumer countries, at the end of the landmark summit.
The UAE has an OPEC output quota of 2.28 million barrels per day and estimated reserves of almost 100 billion barrels. – (AFP)
© Agence France Presse 2000
© 2000 Mena Report (www.menareport.com)