Relations between the IEA and Opec have grown increasingly frosty of late, with disagreements being aired publicly. Senior Opec figures have been aggrieved by the IEA’s vocal statements that if global climate policies are to be achieved there should be no further investment in oil and gas, while simultaneously criticizing Opec+ production cuts as risking destabilizing the global economy. These statements are seen as contradictory, with the only common thread being a criticism of Opec+.

When IEA Executive Director Fatih Birol told Bloomberg TV on 26 April that Opec+ had to be “very careful” not to push prices upgiven global economic fragility, Opec opted for a highly unusual public rebuke of the organization. The secretariat issued a press release on 27 April titled “IEA should be very careful about further undermining oil industry investments,” mirroring Mr Birol’s words. (CONTINUED - 250 WORDS)