In a letter, the secretary general of the oil cartel called on countries in the group to “reject any text or formula that targets energy.”
Tag: Organization of the Petroleum Exporting Countries
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Surging U.S. Oil Production Brings Down Prices and Raises Climate Fears
American oil production is hitting record levels, delivering economic and foreign policy benefits but putting environmental goals further out of reach.
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So, an Oil Cartel Walks Into a Climate Summit …
OPEC is a participant at COP28. Unlike the United States, it is moving to cut production.
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Oil Producers Fail to Agree on More Production Cuts
Oil prices fell after OPEC Plus’s year-end gathering failed to produce substantial cuts in output. But the group said Brazil, an oil giant, was expected to join.
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In a Shaky Oil Market, OPEC Has Bitter Decisions to Make
Anticipating a drop in demand for 2024, major producers, led by Saudi Arabia, are trying to reduce supply.