General Secretary of the Organization of Oil Exporting Countries (OPEC) Mohammad Barkindo stated that Europe’s attempts to abandon the use of fossil fuels in the energy industry reached “hysteria”, Bloomberg reports. This is, according to the Secretary General, explains the rapid rise in gas prices in the region.
Barkindo is confident that the climate policy of Europe was unsuccessful, since the “necessary investments” in the oil and gas industry, even in developing countries, was reduced for the energy transition in the region. “For the energy transition are incorrect steps. Accordingly, it already makes it necessary to know about himself,” said the head of OPEC on the Forum Energy Intelligence Forum.
Barkindo denies that there are wines of oil producers in the energy crisis. According to him, the recent decision on the preservation of the previous rates of increasing production, as well as an agreement on the reduction of production during a pandemic, shows the desire of OPEC to sustainable equilibrium in the market. From the face of the whole organization Barkindo called “the main pollutants, that is, the main emission producers, to stop and work on long-term solutions” during the UN International Climate Summit in Glasgow in October.
Press Secretary of the Russian President Dmitry Sadkov shares this point of view for the reasons for the energy crisis in Europe. He stated that an integrated approach was needed for energy policies, which practiced, for example, the authorities of Russia. In his opinion, Europe did not take into account possible climatic processes. “The wind has become smaller and the generation has decreased,” commented on the sands. He added that countries had to fill out the developed deficit from other sources, but the resources were not enough.
Oil prices sharply increased on October 4 after OPEC participants agreed to preserve the moderate raising rates of mining. The exporting countries of petroleum products have adopted such a decision despite the fact that the world stocks of fossil fuels are sharply reduced and a number of states are asked to expand the supply. By the time of publication, the news of the Brent Oil Cost on the London Stock Exchange Ice has already reached $ 81.2 per barrel (December futures). November WTI oil futures are traded at $ 77.4 per barrel.