For Traders

Analytical Reviews

04.06.202111:20 Forex Analysis & Reviews: OPEC leaders reject IEA plan to achieve clean green energy by 2050

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

OPEC leaders rejected the IEA's plan to achieve clean green energy by 2050. According to the coalition, halting investments in the oil and gas industry will ultimately harm the global economy.

But if the world follows the agenda of the IEA, which includes termination of investments in new oil fields to achieve zero carbon emissions by 2050, oil prices will skyrocket to $ 200.

"The transition to clean energy is dangerous," said Saad Sherida al-Kaabi, the current Minister of Energy of Qatar. Saad Sherida Al-Kaabi. "If you deprive the industry of new investments, you will get a global jump in prices," he added.

It is unsurprising that large oil producers disagree on possible restrictions in the oil industry. Prince Abdulaziz bin Salman, Saudi Arabia's energy minister, even said that such a move will not help get rid of climate change. And when asked about the Kingdom's plan on oil production, he said that an increase may be observed in the coming months.

As for Qatar, local reports say it wants to move forward with a $ 29 billion liquefied natural gas expansion. And by the end of this year, it will finalize its decision on whether it will open partnership with international companies.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.