By Alex Lawler, Ahmad Ghaddar and Rania El Gamal LONDON/DUBAI (Reuters) - The United States said in call with Saudi Arabia that energy should be kept affordable for consumers, as the administration of President Joe Biden resumed the practice of his predecessor Donald Trump who contacted OPEC s leader before key meetings. U.S. Energy Secretary Jennifer Granholm said on Twitter she had a call with Saudi Energy Minister Abdulaziz Bin Salman. We reaffirmed the importance of international cooperation to ensure affordable and reliable sources of energy for consumers, Granholm said. The Organization of the Petroleum Exporting Countries (OPEC) and allied producers, a group known as OPEC+, have been cutting output by almost 7 million barrels per day (bpd) to support prices and reduce oversupply. In addition, Saudi Arabia has made an extra 1 million bpd voluntary cut.
Rohstoffe: Opec plus will wieder mehr Öl fördern – Ölpreis gibt Teil der Gewinne wieder ab
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Opec+ will wieder mehr Öl fördern
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Mamdouh Salameh on March 17 2021 said: Aside from being politically motivated and biased in its projections on oil prices and global oil demand, the International Energy Agency’s (IEA’s) projections are most of the time questionable and inaccurate. Just remember its famous projection two years ago that US crude oil production will rise to 25 million barrels a day (mbd) in 2025 and will be bigger than the combined production of Russia and Saudi Arabia. Such a projection is just ludicrous and
speaks volumes about the shallowness of IEA’s research.
The IEA represents the world’s biggest consumers of oil (mostly western consumers) and therefore its motive is to provide its members with cheap oil. That is why its projections always aim to depress oil prices for the benefit of its members.
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