Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity, and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit.The report underlines widespread concerns about the stability of global energy.
Underinvestment in oil and gas development extended into a second year in 2021 even as global energy demand rebounded, raising the prospect of price shocks, scarcity and growing energy poverty, according to a new report by the International Energy Forum (IEF) and IHS Markit. The report underlines concerns about the.
Oil row flares as UAE rejects ‘unjust’ OPEC+ output deal Published on Share
The United Arab Emirates on Sunday criticised the current oil output deal among OPEC+ alliance members as unjust, escalating a row that could derail the energy market’s post-pandemic recovery.
The UAE’s push to increase its production baseline is reported to have derailed last week’s meeting of the alliance of oil-producing countries, and also sets it against its ally Saudi Arabia.
“The UAE demands to have justice in the new agreement after April, and it is our sovereign right to demand reciprocity with the rest of the countries,” Energy Minister Suhail Mohamed Al-Mazrouei said in a television interview.