(Bloomberg) — OPEC+ is considering whether to exclude oil production estimates provided by the International Energy Agency, a public snub that would come after months of more raucous criticism from both sides.
Ministers will discuss the proposal on Thursday, delegates said, who asked not to be identified because the information is private. The measure would change the composition of OPEC's estimate of “secondary sources” of crude oil production that appears in its monthly report and is used to measure compliance with its production quotas.
Itwould also mark the culmination of months of attacks between the IEA, which represents the interests of major energy consumers, and the Organization of Petroleum Exporting Countries. For several years, the two groups tried to work together more closely, but the severe energy crisis that has hit markets over the past six months and the growing push to reduce carbon emissions have made cooperation difficult.
Saudi Arabia's energy minister, Prince Abdulaziz bin Salman, has ridiculed the IEA's proposals on how the world could avoid damaging climate change. When the long rebound in oil prices began last year, OPEC+ ministers blamed the agency, claiming it had been discouraging investment in vital resources.
Russia's invasion of Ukraine, led by OPEC+ together with Saudi Arabia, deepened the gap. IEA Executive Director Fatih Birol said he was disappointed by OPEC+'s lack of response to the crisis, which brought crude oil to more than US$100 a barrel. As OPEC ignored US requests to pump more, the agency led the first coordinated release of its members' emergency oil reserves in more than a decade in an attempt to lower prices.
The IEA provides only one of the six sets of production estimates that make up the figure for “secondary sources”. OPEC is considering replacing it with figures from Wood Mackenzie Ltd. and Rystad A/S, one delegate said.
The IEA press service was not able to comment immediately.
Original Note:
OPEC+ Mulls Snubbing IEA Oil Data as Political Rift Deepens (1)
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
Últimas Noticias
Debanhi Escobar: they secured the motel where she was found lifeless in a cistern
Members of the Specialized Prosecutor's Office in Nuevo León secured the Nueva Castilla Motel as part of the investigations into the case
The oldest person in the world died at the age of 119
Kane Tanaka lived in Japan. She was born six months earlier than George Orwell, the same year that the Wright brothers first flew, and Marie Curie became the first woman to win a Nobel Prize
Macabre find in CDMX: they left a body bagged and tied in a taxi
The body was left in the back seats of the car. It was covered with black bags and tied with industrial tape
The eagles of America will face Manchester City in a duel of legends. Here are the details
The top Mexican football champion will play a match with Pep Guardiola's squad in the Lone Star Cup
Why is it good to bring dogs out to know the world when they are puppies
A so-called protection against the spread of diseases threatens the integral development of dogs
