Vienna, Austria, 31 May 2022–The Organization of the Petroleum Exporting Countries (OPEC) held the 21st Coordination Meeting on Climate Change via videoconference.
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OPEC’s 21st Coordination Meeting on Climate Change takes place
Author: MelodyTreat
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OPEC’s 21st Coordination Meeting on Climate Change takes place
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UAE and Saudi Hinted OPEC Won’t Change Oil Output
Selloff in crude oil accelerated as OPEC members signaled no intention to cut production. As the member gathered in Vienna for a general meeting, the energy minister of the UAE noted that the cartel would do “whatever it takes” to balance oil markets. Yet, he added that “the market is getting bigger” and there are “newcomers to this market”, signaling the new producers are the price setters.
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UAE and Saudi Hinted OPEC Won’t Change Oil Output