meta_pixel
Tapesearch Logo
Log in
Marketplace All-in-One

OPEC chief fuels oil investment debate

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 3 October 2023

⏱️ 8 minutes

🧾️ Download transcript

Summary

From the BBC World Service: In an exclusive interview, the Secretary General of the oil producers cartel OPEC warns of “dire consequences” for the global economy if investment in the oil sector falls. Crisis-hit Chinese property giant Evergrande saw its shares jump when it resumed trading in Hong Kong, but its future is unclear. And the BBC’s Paul Kenyon tracks down one of the so-called “dark fleet” ships carrying Russian oil, despite G7 sanctions.

Transcript

Click on a timestamp to play from that location

0:00.0

It is the last few days of our fall fundraiser and we're making progress toward our goal

0:04.5

of 2,000 marketplace investors.

0:07.6

This is a different kind of goal for us, one that centers on your participation, whether

0:11.8

it's your first-ever donation, you're able to chip in again, or you're starting or increasing

0:16.4

a monthly gift.

0:18.4

Every gift counts.

0:19.4

Let me tell you.

0:20.4

So, stand up as one of our vital marketplace investors, and if you can, do it by Friday.

0:25.8

Put a marketplace.org slash donate.

0:29.8

OPEC's chief feels a debate on oil investment.

0:34.1

Hello, I'm Liana Byrne, and you're listening to the Marketplace Morning Report from the BBC

0:38.4

World Service.

0:39.4

Very good morning to you.

0:40.9

The Secretary-General of the Oil Producers' Cartel OPEC, Hatham al-Qaish, says $14 trillion

0:48.0

will be needed to pour into the oil industry over the next 20 years.

0:52.1

He also stressed the need for renewable energy sources to work alongside oil to meet the

0:56.4

expected 25% increase in energy demand.

1:00.1

He spoke exclusively to the BBC's Sally Bondak.

1:03.4

We have always at OPEC talked about the concern we have for future under-investments, as

1:08.6

some have called for stopping investment in oil.

1:12.0

We believe this is equally dangerous, this will lead to volatility in the future, possibly

1:16.7

supply shortages, and therefore we at OPEC have always advocated for the importance

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from Marketplace, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Marketplace and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.