CALGARY:
Speaking at the World Petroleum Congress here, Prince Abdulaziz said there was ongoing uncertainty about Chinese demand, European growth and central bank action to tackle inflation.“The jury’s still out. This is the fundamental issue – the jury’s still out.” Oil prices have been climbing in recent months amid the supply cuts, raising worries in big consumer nations, like the US, of economic damage.
Prince Abdulaziz took aim at IEA's role. “They have moved from being a forecaster and assessor of the market to one practicing political advocacy,” he said.