Bahrain, Kuwait and UAE welcome oil cooperation

Bahrain yesterday welcomed the outcomes of the Saudi-Russian oil talks held on the sidelines of the G20 summit. 

In a statement, Kingdom stressed on the need to hold similar consultations and meetings between the major oil producers to ensure market stability. 

“Bahrain is not a major oil producer, we are not members of OPEC, but we welcome any agreement between oil producers that could stabilise the market. I think that the Russian-Saudi agreement will promote a stabilisation of oil production and prices, as these are major oil producers. This will affect the entire oil market,” Bahrain’s Ambassador to Russia Ahmed Abdulrahman Saati said to Sputnik. 

Kuwait, UAE 

Kuwait and the United Arab Emirates also welcomed the deal.

Kuwait “welcomes the consultations between Saudi Arabia and Russia about oil markets... and backs the outcome of these consultations for the sake of achieving a balance in the markets”, acting oil minister Anas al-Saleh told the official KUNA news agency.

Emirati Energy Minister Suhail al-Mazrouei also hailed the “positive step”. 

UAE “is keen on supporting and contributing to any common efforts aimed at achieving balance in the oil market”, he said in remarks cited by WAM.