Global oil prices fell on Monday after COP28 president Sultan Al Jaber hit back at criticisms of comments he made before the climate summit about scientific evidence of the need to phase down the use of fossil fuels.
In an online event in November, Al Jaber had reportedly remarked there was “no science” to support the idea that the reduction of the use of fossil fuels would help limit the global temperature increase to 1.5C — a key goal of climate change activists, and one of the central themes of COP28.
On Monday, day five of the climate summit, Al Jaber hit back, saying: “We very much believe and respect the science.”
He added: “I honestly think there is some confusion out there, and misrepresentation. I am quite surprised with the constant and repeated attempts to undermine the work of the COP28 presidency.”
Energy Markets Fall During COP28
Energy markets have not performed well during the first few days of the climate summit. Since the start of the event on Thursday, Brent crude has fallen 5.3% to ...