On a separate matter, the Paris-based energy watchdog the International Energy Agency (IEA) had been critical of Opec+, saying it is not doing enough to help tackle high energy prices.
- IEA executive director Fatih Birol described the group’s decision to stick with a 400,000 b/d increase in its April crude quota as “disappointing”.
Opec now hits back:
- has removed the IEA from the panel of “official” secondary sources that monitor the group’s monthly crude production
- The agency has been replaced by consultancies Wood Mackenzie and Rystad Energy, which join Argus, the US’ Energy Information Administration, S&P Global Platts, IHS Markit and Energy Intelligence.