The United Arab Emirates will play a key role in the stability of oil markets in the future and is committed to continue spending on its energy projects regardless of the oil price, the oil minister said on Thursday.

"You have a reputation as a government to maintain your supply arrangements with your legacy customers and keep your commitments ... that is what makes them come to us, is that they know we will spend in good days and difficult days," Suhail al-Mazrouei said at the closing session of an oil and gas conference in Abu Dhabi.

The UAE has repeatedly said it was pushing ahead with all its planned projects despite the drop in oil price.

"The UAE played a key role in the political stability of this region and the UAE will play, and watch us, a key role in the stability of the market," he said. – Reuters