[size=36]“OPEC”: We are not the reason for the exacerbation of inflation rates around the world[/size]
[You must be registered and logged in to see this link.]
, the new Secretary-General of "OPEC", Haitham Al-Ghais, said today, Wednesday, that the group of producers is not responsible for the rise in inflation, pointing instead to the chronic shortage of oil and gas investments.
In an interview with CNBC, Al-Ghais said, "OPEC is not behind this increase in prices. There are other factors outside of OPEC that are already behind the rise we have seen in gas (and) in oil."
"Again, I think in a nutshell, to me, it's underinvestment, chronic underinvestment. This is the harsh reality that people have to wake up to and policy makers have to heed."
And he added: "Once that is achieved, I think we can start thinking of a solution here. The solution is very clear, and OPEC has a solution; investment, investment and investment."
Earlier this year, the Kuwaiti was appointed for a three-year term as the Secretary-General of the Organization of "OPEC", succeeding the veteran Nigerian Mohamed Barkindo, who died last month at the age of 63, just days before he was due to step down from the organization.
The International Energy Agency said in June that global investment in energy is on track to increase by 8% this year to $2.4 trillion, with most of the projected increase coming mainly from clean energy.
She described the results as "encouraging" but cautioned that investment levels were still far from sufficient to address the multiple dimensions of the energy crisis.