The head of the International Energy Agency (IEA) Fatih Birol called on the oil producers of the OPEC + alliance to reduce the difference between their words and deeds, while prices today rose to the highest level in more than seven years.
Speaking at an industry event in Cairo, which was broadcast on Egyptian state television, Birol also said that the politicization of gas markets in Europe was not helping anyone. His comments were broadcast in Arabic on state television.
International oil prices have risen above $ 96 a barrel today, their highest level in more than seven years, amid fears that a possible Russian invasion of Ukraine could lead to US and European sanctions. disrupt oil and gas exports.
Members of OPEC +, the Organization of the Petroleum Exporting Countries and its allied producers, including Russia, agreed earlier this month to stick to modest output growth as they ease production restrictions introduced at the height of the pandemic. .
As several OPEC + members struggle to increase production after years of underinvestment, the alliance has not achieved the promised monthly production increases of 400,000 barrels per day. The IEA said in its latest monthly report that the gap between target and actual output widened to 900,000 barrels per day.
Source: Capital
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