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Adi Imsirovic’s guest column, “OPEC Must Help Oil Producers Through Energy Transition” (Opinion, July 31), highlights how OPEC’s actions are hindering the shift to cleaner energy.
The column accurately notes that OPEC, particularly Saudi Arabia, is limiting oil production to keep prices high and balance budgets. This strategy maintains elevated oil prices even when demand is low.
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In a normal market, falling demand would lead to lower prices, which would encourage consumption. However, OPEC’s decision to keep prices artificially high may actually reduce oil use and support the transition to alternative energy sources.
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