OPEC: The International Energy Agency should be very careful about undermining major oil investments

OPEC Secretary-General Haitham Al-Ghais said that the International Energy Agency should be very careful about discouraging investment in the oil industry, which is vital to global economic growth, and explained that such statements may lead to fluctuations in the oil market in the future.

Al-Ghais added, "If there is anything that will lead to fluctuations in the future, it is the International Energy Agency's repeated calls to stop investing in oil, knowing that all data-based forecasts envision the need for more of this precious commodity to fuel global economic growth and prosperity in the coming decades, especially in the coming decades." the developing world”. The Executive Director of the International Energy Agency, Fatih Birol, criticized the sudden announcement by the OPEC group earlier this month of cutting production by 1.66 million barrels per day from May until the end of 2023. Birol said in an interview with Bloomberg that OPEC should be careful about raising oil prices because it It will translate into a weaker global economy