Oil producer group OPEC on Thursday lashed out at the IEA, saying the energy agency should be 'very careful' about undermining industry investments.
OPEC Secretary General Haitham al-Ghais said finger-pointing and misrepresenting the actions of OPEC and OPEC+ was "counterproductive."
OPEC said the comments came in response to fresh criticism from the IEA, without providing further details. OPEC Secretary General Haitham al-Ghais said finger-pointing and misrepresenting the actions of OPEC and OPEC+ was "counterproductive." He added that the influential group of 23 oil-exporting exporting nations was not targeting oil prices, but instead focusing on market fundamentals.
Birol said that the energy alliance, led by Saudi Arabia, should be "very careful" with its production policy, warning that the group's short-term and medium-term interests appeared to be contradictory. He added that higher crude prices and upward inflationary pressures would result in a weaker global economy, with low-income nations likely to be disproportionately affected.
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