OPEC: IEA urges OPEC to take “necessary measures” to lower oil prices
“I really hope to see at the next meeting (s) they (…) take the necessary measures to comfort the world oil markets and help bring prices down to reasonable levels,” Fatih Birol told reporters.
The head of the IEA, which brings together oil-consuming countries, particularly attacked Russia.
“Russia can easily increase its exports to Europe by around 15% … and significantly bolster European gas markets,” Birol said.
Natural gas prices in Europe have skyrocketed this year and Russia, the region’s main supplier, has been slow to ramp up deliveries.
OPEC countries and their allies, including Russia, are slowly increasing production each month to pre-pandemic levels.
They have declined to move faster despite rising prices to over $ 80 a barrel, a level that many analysts say could undermine the global economic recovery.
The United States and a handful of other oil-consuming countries on Tuesday announced the release of their strategic oil reserves in a bid to ease the spike in pump prices that is biting into consumer wallets and driving up costs. transport.
Global crude prices have risen further, with this move less ambitious than expected.