OPEC Sec. General Mohammad Barkindo says in the face of skyrocketing energy prices, the group’s mission remains to act as a reliable supplier. He said the oil-producing alliance has “no control over current events” and that geopolitics have now taken over and are “dictating the pace of the market.” As oil has surged to record high, OPEC and its allies have opted to keep production steady.
Shares in cruise operators and airlines nose-dived yesterday over concerns about an expanding war in Europe impacting the summer travel season combined with skyrocketing fuel prices.
Uber has boosted its financial outlook, citing a faster-than-expected rebound from omicron headwinds. The ride-hailing company says mobility demand has improved “significantly” through February, with trips back to 90% compared with its February 2019 figures.
