Prince Abdulaziz Bin Salman, Saudi Arabia’s energy minister has expressed trust in OPEC+ as he opened the 44th IAEE International Conference at the King Abdullah Petroleum Studies and Research Center (KAPSARC) in Riyadh.
Abdulaziz said that it was crucial that economists work in the energy industries, emphasising that although forecasters are influential, you don’t have to believe them.
He noted that trusting OPEC+ remains the most crucial lesson he had learned, particularly given that the organisation separates political reality from energy-related issues.
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“Some had expected that OPEC + would not meet again and be unable to make correct decisions,”he said.
On the level of clean energy, he mentioned that the Kingdom is the largest producer with the lowest cost of renewable energy, and will soon reach the same position in the production of green, blue and purple hydrogen.
The IAEE International Conference 2023 is one of the world’s most influential strategic conference programs — playing an important role in developing the thought leadership, direction and strategies that will shape the industry’s response to the realities of the energy transition.
The conference provides the opportunity for academia, the scientific community, industry, and government to assess the evolving energy landscape and explore ideas and strategies that will ensure long-term future success in a lower carbon future.
This story was adapted from Zawya.
