Climate action should not come at cost of energy security, OPEC says

Reuters/REUTERS

"There are some who unfortunately continue to push the extremely risky narrative of dismissing oil with talk of oil demand dropping by almost 25 million barrels a day by the year 2030," Al Ghais said

Maha El Dahan and Nadine Awadalla, Reuters News

October 9, 2023

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DUBAI - Climate action should not come at the cost of global energy security, OPEC Secretary General Haitham Al Ghais said on Monday at the launch of the group's World Oil Outlook in the Saudi capital Riyadh.

"There are some who unfortunately continue to push the extremely risky narrative of dismissing oil with talk of oil demand dropping by almost 25 million barrels a day by the year 2030," Al Ghais said

Regarding calls to halt investments in new oil projects, he said: "We believe this can only lead to heightened volatility which will hinder economic development and exacerbate energy poverty."

(Reporting by Maha El Dahan and Nadine Awadalla; editing by Jason Neely)

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