Some countries have not taken a helpful position in terms of oil and gas prices, the head of the International Energy Agency said on Wednesday, saying not enough supply was reaching consumers.
“(A) factor I would like to underline that caused these high prices is the position some of the major oil and gas suppliers, and some of the countries did not take, in our view, a helpful position in this context,” Fatih Birol said in an online presentation.
“Some of the key strains in today’s markets may be considered artificial tightness… because in oil markets today we see close to 6 million barrels per day in spare production capacity lies with the key producers, OPEC+ countries.”