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Page added on September 30, 2005
OPEC rejects UK’s Brown comments on lacking transparency regarding reserves
It is unfair to say that OPEC is not transparent enough regarding its production and its reserves, OPEC interim general secretary Adnan Shihab-Eddin said during an oil conference here.
He was reacting to comments made by UK Chancellor Gordon Brown calling on OPEC nations to become more transparent and ‘prevent high prices hurting the poor’.
Brown wants more transparency from OPEC nations about the state of the world’s reserves to prevent instability and speculation in the market.
‘We have always been as transparent as possible, Shihab-Eddin said, adding that the bloc publishes figures every year about its reserves and its production capacities.
One Comment on "OPEC rejects UK’s Brown comments on lacking transparency regarding reserves"
that's not my neighbor on Thu, 17th Oct 2024 10:11 pm
This exchange reflects the ongoing challenge of balancing market stability, public perception, and the complex realities of resource management. Increased transparency could indeed reduce speculation, but OPEC’s claim of openness raises questions about what further measures could satisfy critics.