Last spring the outlook was dire for oil exporting states. Just as the Covid-19 crisis was growing, Saudi Arabia and Russia entered a brief but painful price war that left no one at the helm of the oil market for a crucial month. As people around the world settled into working from home and shunned air travel, the oil demand outlook darkened. Inventories climbed and threatened
Middle EastOPEC says IEA net-zero pathway could add to oil-price volatility
Dmitry Zhdannikov
2 minute read
A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File Photo
OPEC has said that an IEA report suggesting that investors should not fund new oil projects to curb emissions could lead to oil-price volatility if it is acted on.
The International Energy Agency on Tuesday said investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century, in its starkest warning yet to curb fossil fuels. read more
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