NRGO - IEA warns of oil risks as OPEC+ standoff drags out

"Oil markets are likely to remain volatile until there is clarity on OPEC+ production policy. And volatility does not help ensure orderly and secure energy transitions - nor is it in the interest of either producers or consumers," the IEA wrote in its latest monthly report. "While prices at these levels could increase the pace of electrification of the transport sector and help accelerate energy transitions, they could also put a drag on the economic recovery, particularly in emerging and developing countries."Refresher: OPEC+ abandoned talks last week that would have boosted oil supply in monthly installments from August after the UAE rejected the plans, insisting its current baseline was too low. OPEC+ has not yet made progress in resolving the dispute, making the prospect of another policy meeting this week less likely. Meanwhile, the IEA still anticipates global oil demand to rise by 5.4M barrels per day this year and by

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IEA warns of oil risks as OPEC+ standoff drags out