OPEC Secretary General Said OPEC Believes Climate Action Should Not Come At The Cost Of Global Energy Security, Said There Are Some Who Continue To Push The Narrative Of Dismissing Oil With Talk Of Oil Demand Dropping By Almost 25M B/D By 2030
Portfolio Pulse from Charles Gross
OPEC Secretary General stated that climate action should not compromise global energy security. He mentioned that some are advocating for a reduction in oil demand by nearly 25M B/D by 2030.
October 09, 2023 | 8:56 am
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NEUTRAL IMPACT
The OPEC's stance on maintaining oil production could impact China's energy sector, which is a significant part of FXI.
As OPEC is a major player in the global oil market, its stance on maintaining oil production could impact the energy sector worldwide, including China. This could indirectly affect the performance of FXI, which includes Chinese energy companies.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
NEUTRAL IMPACT
The OPEC's stance could impact the energy sector in the US, which is a significant part of SPY.
OPEC's stance on maintaining oil production could impact the energy sector in the US. This could indirectly affect the performance of SPY, which includes US energy companies.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50