US embassy cable - 03ABUDHABI889

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UAE REITERATES A COMMITMENT TO MAINTAINING OIL SUPPLIES

Identifier: 03ABUDHABI889
Wikileaks: View 03ABUDHABI889 at Wikileaks.org
Origin: Embassy Abu Dhabi
Created: 2003-02-24 05:56:00
Classification: UNCLASSIFIED//FOR OFFICIAL USE ONLY
Tags: EPET ECON ENRG TC
Redacted: This cable was not redacted by Wikileaks.
null
Diana T Fritz  06/05/2007 10:24:52 AM  From  DB/Inbox:  Search Results

Cable 
Text:                                                                      
                                                                           
      
UNCLASSIFIED

SIPDIS
TELEGRAM                                        February 24, 2003


To:       No Action Addressee                                    

Action:   Unknown                                                

From:     AMEMBASSY ABU DHABI (ABU DHABI 889 - ROUTINE)          

TAGS:     EPET, ECON, ENRG                                       

Captions: None                                                   

Subject:  UAE REITERATES A COMMITMENT TO MAINTAINING OIL SUPPLIES

Ref:      None                                                   
_________________________________________________________________
UNCLAS        ABU DHABI 00889

SIPDIS
Laser1:
    INFO:   FCS 
CXABU:
    ACTION: ECON 
    INFO:   AMB POL P/M DCM 

DISSEMINATION: ECON
CHARGE: PROG

APPROVED: DCM: RMALBRIGHT
DRAFTED: ECON:GARANA
CLEARED: ECON: TEWILLIAMS

VZCZCADI279
RR RUEHC RHEBAAA RUCPDOC RUEATRS RUEHHH
DE RUEHAD #0889 0550556
ZNR UUUUU ZZH
R 240556Z FEB 03
FM AMEMBASSY ABU DHABI
TO RUEHC/SECSTATE WASHDC 8503
INFO RHEBAAA/USDOE WASHDC
RUCPDOC/USDOC WASHDC
RUEATRS/DEPT OF TREASURY WASHINGTON DC
RUEHHH/OPEC COLLECTIVE
UNCLAS ABU DHABI 000889 
 
SIPDIS 
 
SENSITIVE 
 
DEPT FOR NEA/ARP, EB/IEP AND INR/EC 
DOE FOR INTERNATIONAL AFFAIRS COBURN AND CALLIENDO 
 
E.O. 12958: N/A 
TAGS: EPET, ECON, ENRG, TC 
SUBJECT: UAE REITERATES A COMMITMENT TO MAINTAINING OIL 
SUPPLIES 
 
 
1. (U) UAE Oil Minister Obaid bin Saif al-Nasseri publicly 
declared on 2/22, following a meeting with Russian Oil 
Minister Igor Yusufov, that OPEC is prepared to act 
decisively to ensure no disruption of oil supplies to world 
markets.  In remarks widely covered by the local and 
international press, Al-Nasseri told reporters, "If 
something drastic happens, then we have to take necessary 
action.  The producers will carry out their responsibility." 
 
2. (SBU) Comment: Al-Nasseri's statements reflect a 
continuing effort by the UAE to reduce anxiety in the oil 
market.  The UAE is well aware that the current high prices 
are not in their long-term interest, since they can serve 
only to bring additional non-OPEC supply into the market, 
thereby further eroding OPEC market share.  It thus appears 
not accidental that Al-Nasseri's remarks came after a 
meeting with Yusufov.  End comment. 
 
Wahba 

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