OPEC Demands Consistency After Another IEA U-Turn

This week’s call from the International Energy Agency (IEA) for continued investment in existing oil and gas fields is another moment of truth for the Paris-based agency, highlighting its inconsistent messages about upstream investment, OPEC says. OPEC reviewed the messages the IEA has issued since 2017 in an article published on its website. The agency shifted its position that investments are needed at some point between 2018 and 2021. By May 2021, the IEA was already advocating for no investments in new oil and gas fields for a chance…