Soaring Weather Temperatures in the Middle East May Drive Fuel Prices Higher

In this interview given to Antony Di Paola and Fiona McDonald from Bloomberg, Dr Carole Nakhle, CEO of Crystol Energy, comments on the soaring temperatures in one of the world’s top energy-producing regions which could drive fuel prices higher as countries in that region burn more oil and natural gas to keep homes cool.

According to Dr Nakhle, OPEC+ is still sitting on more than 5 million barrels a day of spare capacity, mostly in the Gulf and particularly Saudi Arabia. The Saudis can do what they want, though pumping more crude just to burn it for power isn’t their best option.

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