Climate Looms Large Over Middle East's Biggest Oil Gathering - Bloomberg
Climate Looms Large Over Middle East’s Biggest Oil Gathering - Bloomberg
Climate Looms Large Over Middle East’s Biggest Oil Gathering
- UAE convenes producers ahead of UN’s COP28 conference in Dubai
- Nation looking to balance roles of oil state, voice on climate
At the biggest Middle Eastern energy conference this week, oil won’t be top of the agenda.
Ministers and business chiefs will gather in Abu Dhabi for the Adipec summit, an annual gathering where oil investment, production and markets have been dominant topics in the forum’s long-running history. This time around, climate is likely to take over.
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Climate Looms Large Over Middle East’s Biggest Oil Gathering
Related Knowledge Center: ENERGY BASICS: petroleum
While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.