Friday, April 28, 2023

OPEC is at odds with the International Energy Administration (IEA)

Oil Set for Sixth Month of Declines on Slowdown Concerns | WTI heads for longest stretch of monthly losses since January 2015

  • The group claims the agency is stoking volatility after warning production cuts risked fueling inflation.

  • The cartel also criticized the IEA for its call to halt investments in new oil and gas projects.

  • Meanwhile, oil prices are on track for the 6th straight month of losses.

  • That’s the longest such streak in more than 8 years.

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