Oil market volatility not linked to OPEC+, UAE energy minister says

Oil market volatility is linked to factors outside the control of the OPEC+ producers group, such as moves by some buyers to boycott certain suppliers, the United Arab Emirates’ energy minister said on Tuesday, alluding to Western curbs on Russia.

The UAE is a member of OPEC+, made up of the Organization of the Petroleum Exporting Countries and allies including Russia. Ignoring calls from Western nations for accelerating output hikes, the group agreed to raise its June production target by 432,000 barrels per day, in line with an existing plan to unwind curbs made in 2020 when the COVID-19 pandemic hammered demand.

Oil prices were boosted last week after the European Commission proposed a phased embargo on Russian oil. However, the approval has been delayed amid requests from Eastern European members for exemptions and concessions.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

How a software company is testing radio waves to produce oil in Alberta | CBC NewsAs oilsands firms try to meet climate targets, there has never been as much focus on how the industry in northern Alberta can cut its air pollution, which is why a variety of technologies are in development, including innovations first conceived decades ago — like microwaving the oil out of the ground. Leave it in the ground would be better look at my boobs😘 Likely don't appreciate how important that 'ground' is either. PS...using the oil is a big problem too. We're outta time and these do nothings just sit there trying to rearrange the deck chairs on the titanic.
La source: CBCNews - 🏆 2. / 99 Lire la suite »