Opec should help members through energy transition

Quick Summary:

Officially, Opec accepts the reality of climate change.

The early political ideas of the late 1950s that led to creation of Opec in 1960 were not just based on the desire of oil producers to control their own natural resources.

This strategy is unlikely to work for a number of Opec countries — Nigeria, Venezuela, Angola, Congo, Gabon, Algeria and others.

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Article Details

Category: MarketsFinanceInvesting

Markets: United StatesAlgeriaCongoGabonNigerNigeriaSaudi ArabiaUnited Arab EmiratesVenezuela

Topics: Role Financial Opec Demand Resources Transition Energy Countries Organisation Members Climate

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-31 @ 04:00:07 (10 hours ago)

News Timezone: GMT -5:00

News Source URL: ft.com

Language: English

Article Length: 807 words

Reading Time: 5 minutes read

Sentences: 39 lines

Sentence Length: 21 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Financial Times

News ID: 21866515

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Official Website: ft.com

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News Last Updated: 8 hours ago

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