Wedoany.com Report-Nov 4,  Dubai: The global energy markets will require more of the balancing act as competing factors try to add more volatility, according to a top official with the UAE Ministry of Energy and Infrastructure.

With the US Presidential election this week and the Middle East conflict showing few signs of easing up on the intensity, oil prices remain on edge, trading at just over $70 a barrel.

“The significant disruptions in energy markets - primarily due to geopolitical events - have underscored the critical importance of energy security and affordability and the urgent need to transition to a low-carbon energy system,” said Sharif Al Olama, Undersecretary for Energy and Petroleum Affairs at the Ministry of Energy and Infrastructure.

“Maintaining a stable global energy market requires collaboration, foresight, and proactive measures. Through effective cooperation, countries can collectively build a balanced and coordinated energy landscape that makes our energy systems resilient to challenges and puts all of us on track for a sustainable energy-secure future.”