Ministry of Foreign Affairs has released a statement stating that Maldives in firm solidarity with the Kingdom of Saudi Arabia with regard to the decision by the OPEC+ on 5th October 2022 regarding oil production.
As per the statement, the Government of Maldives believes that the decision was made on purely economic grounds and determined by market variables and other technical considerations.
The Maldives also notes that the decision of OPEC+ was by consensus of all its members and should furthermore be seen as a positive step to stabilize global oil markets, and not as a politically motivated decision.
The stability and security of the global energy market is imperative for a Small Island Developing country such as the Maldives who are highly dependent on energy imports.
The statement further reads that Maldives values the efforts by the Kingdom of Saudi Arabia to encourage strong and sustained global economic growth.