Oil-producing countries are still betting on an increase in demand for hydrocarbons

by time news

2023-12-13 20:35:24

Reluctant to negotiate on mentions of phasing out fossil fuels, Saudi Prince Abdulaziz ben Salman declared that he was reassured by the final agreement at COP28 on December 13. MARTIN DIVISEK / EPA/MAXPPP

DECRYPTION – Saudi Arabia and Persian Gulf producers assure that the agreement reached at COP28 in Dubai does not compromise their forecasts for growth in oil production in the medium term.

In Riyadh, we appear reassured despite the final agreement reached at COP28. “ I think that these texts do not affect our exports, nor our ability to sell », Prince Abdulaziz bin Salman told Al-Arabiya state television on Wednesday. “ The Pharaonic method of dictating things has been buried and people are therefore free to make their choices. », put the Minister of Energy into perspective, referring to the agreement which stipulates that the transition will be “ determined at national level » and according to « different paths and approaches ” depending on the country.

Saudi Arabia, the world’s largest oil exporter, opposed mention of an exit from fossil fuels during the COP negotiations. Iran, Iraq and Kuwait have done the same. Through the voice of its secretary general, Haitham al-Ghais, OPEC, the Organization of the Petroleum Exporting Countries, of which Arabia is the leader, had even encouraged its thirteen members and ten allies within…

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