Saudi Arabia’s two initiatives at the OPEC table to confront climate change today

The secretariat of the Organization of Petroleum Exporting Countries “OPEC” will host in Vienna today, Monday, the first ministerial round table on energy, climate and sustainable development via video conference.

Muhammad Barkindo, Secretary-General of the Organization of the Petroleum Exporting Countries, said that the table will discuss carbon capture, use and storage technologies, energy poverty, the circular economy of carbon, the “Saudi Green Initiative” and the “Green Middle East Initiative” presented by Saudi Arabia, the latest developments and critical issues related to the World Climate Summit. The Ministerial Roundtable on Energy, Climate and Sustainable Development comes at a critical juncture, as the world faces two unprecedented issues, the Corona pandemic and the climate change crisis.

He noted that the meeting will provide a dynamic platform to facilitate knowledge sharing and useful discussion on challenges and opportunities arising from implementing climate mitigation measures.

On the other hand, crude oil prices ended last week’s trading with declines as a result of the US jobs report, which showed weakness in the economic recovery in addition to the continuing repercussions of the spread of new infections with the delta variable of the Corona virus.

The international “World Oil” report stated that the global benchmark Brent crude price changed slightly near $ 72 a barrel after the “OPEC +” group stuck to the plan to boost crude oil production by about 400,000 barrels per day on a monthly basis, with betting that the market could absorb Additional offer.

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