The NOPEC bill, which was recently reintroduced in Congress by a group of legislators, and price caps on oil will only serve to increase instability and uncertainty in oil markets rather than solve any problems. This is the view of Saudi Energy Minister Abdulaziz bin Salman who spoke with Energy Intelligence. “The Nopec bill does not recognize the importance of holding spare capacity and the consequences of not holding spare capacity on market stability,” bin Salman said, adding that “Nopec would also undermine investments in…
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