6 JUNE,2023.
OPEC+ deal swells risk of oil price rise: Birol(PG 14)(GS 2)
6 JUNE,2023.
•The head of the International Energy Agency (IEA) on Monday said that the chance of higher oil prices had increased sharply after a new pact between producers to limit supply.
•The OPEC+ group of oil producers, which comprises the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, agreed on a new oil output deal on Sunday.
•The prospect of higher prices has “increased a lot” as a result of the deal, Fatih Birol, the IEA’s executive director, told a meeting of global airline leaders.
•Mr. Birol added that there was an imbalance in the global oil market in the second half of this year already, and that the situation would worsen after the latest OPEC+ decision to reduce oil output