Opec actions increasing volatility and hampering new investment in oil and gas, Eni CEO says 

Claudio Descalzi expects high volatility in the energy markets experienced in recent years to extend into 2025.

OPEC+ oil supply cuts and recent efforts to unwind them have increased volatility in energy markets and hampered investment in new production, the CEO of Italian energy company Eni said on Monday (Nov 4).

Speaking at an industry event in Abu Dhabi, Claudio Descalzi said he expected high volatility in the energy markets experienced in recent years to extend into 2025.

Eight members of Opec+, which groups the Organization of the Petroleum Exporting Countries plus Russia and other allies, agreed on Sunday to delay a planned December oil output increase by one month due to weak demand in China and rising supplies.