Energy

IEA says OPEC deadlock is bad news for producers, consumers and energy transitions

0


Oil derrick pumps operate at the Inglewood Oil Field in Culver City, California, on Sunday, July 11, 2021.

Kyle Grillot | Bloomberg | Getty Images

LONDON — The International Energy Agency on Tuesday warned that world oil markets are likely to remain volatile following a breakdown in talks between OPEC members and their non-OPEC allies, creating a no-win situation.

In its latest monthly oil market report, the IEA said energy market participants were closely monitoring the prospect of a deepening supply deficit if a deal was not reached by the Organization of the Petroleum Exporting Countries and its oil-producing allies, a group known as OPEC+.

“Oil markets are likely to remain volatile…



Source cnbc.com

Sam’s Club is testing a scan-and-ship option for shoppers

Previous article

Earnings season starts with sky-high stock prices and sky-high expectations

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Energy