Blaming OPEC+ aims to divert attention from energy prices hike: Saudi Minister

  • 5/12/2022
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Saudi Minister of Energy Prince Abdulaziz bin Salman said that blaming OPEC+ aims at diverting attention from the rise in prices of other energy types. He noted on Wednesday that the rise in natural gas and coal prices was ignored. The minister indicated that those who overlook the rise in gas and coal prices and focus only on oil do not want to draw attention to themselves; thus, they put the blame on OPEC+. The world has exhausted all production capacity, including strategic oil reserves, and this was not called for or caused by OPEC+, especially Saudi Arabia and the UAE, said the minister. He also pointed out that the world should reconsider OPEC+, which has been and always will be a source of long-term stability of supplies. — SG

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