OPEC+ urged other countries to join the alliance
Representatives of OPEC+ member countries invited other states to join the alliance in order to add transparency and predictability to the market by increasing participants, Kommersant writes.
The appeals were made by the Minister of Mines and Hydrocarbons of Equatorial Guinea Antonio Ondo, the Minister of Energy of Azerbaijan Parviz Shahbazov, the Minister of Energy of the UAE Suhail al-Mazroui and other officials of the OPEC+ member countries.
In their opinion, despite the growth in demand, investments in the industry are declining, and a broader discussion is needed on the further actions of oil exporting countries.
The Azerbaijani Energy Minister noted that earlier the maximum investments in the energy sector amounted to about $900 billion, while in 2021 — only $300 billion.
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