OPEC officials see output shielded from spiraling costs

摘要

Paris—While oil majors are concerned that some complex oil projects may be scrapped due to spiraling costs, some OPEC nations are rejoicing at the prospect of staying longer in the supply game as development costs for conventional oil remain far cheaper. UAE’s Energy Minister, Suhail Mohammed Al Mazrouei, said Friday that some majors may have to halt expensive projects if oil prices fall to unprofitable levels but that a lower price would not stop OPEC nations from continuing to produce.