OPEC asked to ease energy crunch
Ministers from the Group of Seven countries on Friday called on OPEC to act responsibly to ease a global energy crunch brought on by the Russian invasion of Ukraine, even as they announced a breakthrough commitment to phase out coal-fuelled power. The call, made at the end of three-day talks in Berlin focused on climate change, underscored that the world’s major economies were grappling with how to contain inflation and higher energy prices while sticking to environmental goals. OPEC and its allies, a group known as OPEC+, has so far rebuffed western calls for a faster increase in oil production to lower surging prices. “We call on oil and gas producing countries to act in a responsible manner and to respond to tightening international markets, noting that OPEC has a key role to play,” said a communique at the end of the G7 talks.
Published in The Express Tribune, May 28th, 2022.
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