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Oman says crude prices could increase to USD200 per barrel
(MENAFN) According to Omani oil producer, crude prices could increase to USD200 a barrel as it condemned the International Energy Agency’s ambitions of halting new fossil fuel projects to fight climate change.
In May, the IEA urged for a stop to new investment in oil, gas and coal extraction in a bid to increase chances of holding down the dangerous improvement in global temperatures.
Such “unilateral recommendations” were not supportive, stated Oman’s energy minister, Mohammed Al-Rumhi.
The official further declared during a conference jointly organized by his country with the IEA on energy transition in the Middle East and North Africa that “Recommending that we should not invest in new oil... I think that’s extremely dangerous.”
In May, the IEA urged for a stop to new investment in oil, gas and coal extraction in a bid to increase chances of holding down the dangerous improvement in global temperatures.
Such “unilateral recommendations” were not supportive, stated Oman’s energy minister, Mohammed Al-Rumhi.
The official further declared during a conference jointly organized by his country with the IEA on energy transition in the Middle East and North Africa that “Recommending that we should not invest in new oil... I think that’s extremely dangerous.”
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