The International Energy Agency's (IEA) predictions for Russia in 2022 were inaccurate. Saudi Energy Minister Abdulaziz bin Salman Al Saud said this on Tuesday, speaking at the Qatar Economic Forum in Doha.
"If you check what happened with all these so-called projections and forecasts, I hope you'll give me a few seconds [to explain it]. Look, who has put the most effort into trying to provide data and make projections and three-dimensional modeling that has really created most of the volatility that we had in 2022, and continues to do so? I mean, there's an organization called the International Energy Agency. I think they've proven that it really does take special skills to be constantly wrong <...>. Who tried to form [the idea] that Russia would cut [oil] production by 3 million [barrels]? What happened? None of this happened <...>. What was the benefit? Look at where we are now <...>. We are running out of capacity because countries are not investing in either oil or gas," the minister said when asked about oil prices. His speech was broadcasted on the forum's Twitter page.
GSV "Russia - Islamic World"
Photo: Gavriil Grigorov/TASS
Based on materials from TASS