Controversial Saudi strategies to boost oil demand

A report reveals Saudi Arabia's tactics to artificially boost global oil demand, just ahead of COP28.

Share:

Stratégies pétrolières saoudiennes

Comprehensive energy news coverage, updated nonstop

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access • Archives included • Professional invoice

OTHER ACCESS OPTIONS

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

FREE ACCOUNT

3 articles offered per month

FREE

*Prices are excluding VAT, which may vary depending on your location or professional status

Since 2021: 35,000 articles • 150+ analyses per week

Saudi Arabia, known as the world’s leading oil exporter, has recently been in the spotlight following the publication of an explosive report. The report, released by Channel 4 and the Center for Climate Reporting, highlights the kingdom’s complex strategy to increase oil consumption worldwide.

Oil Demand Sustainability Program (ODSP)

Launched in 2020, the ODSP officially aims to integrate hydrocarbons “efficiently and sustainably” into the global energy mix. However, the report accuses the program of actively promoting the use of oil-powered vehicles in Asia and Africa, as well as supporting fuel-intensive supersonic air transport.

Controversial objectives

The report suggests that the ODSP not only seeks to maintain the position of hydrocarbons, but also to artificially stimulate their demand, particularly in the key markets of Asia and Africa. The aim of this strategy would be to protect Saudi oil revenues from global initiatives to reduce dependence on fossil fuels.

Dissonance in the Climate Discourse

This revelation comes at a delicate time, just a few days before the start of COP28 in Dubai. In 2021, Saudi Arabia pledged to achieve carbon neutrality by 2060, a commitment greeted with skepticism by environmental organizations. The report highlights a striking dissonance between the kingdom’s public declarations and its concrete actions.

COP28: A Platform for Debate

COP28, to be held in Dubai, is already the subject of criticism, not least because of the appointment of the CEO of the oil company Adnoc as conference chairman. Nevertheless, some experts see the meeting as a unique opportunity to address the issue of fossil fuels in the context of climate change.

The report raises crucial questions about the sincerity of Saudi Arabia’s climate commitments, as the world turns its attention to environmental challenges at COP28.

Ambassadors of European Union member states have approved the transmission of a legislative proposal to phase out Russian fossil fuel imports by January 2028 to the Council of Ministers.
The State Duma has approved Russia’s formal withdrawal from a treaty signed with the United States on the elimination of military-grade plutonium, ending over two decades of strategic nuclear cooperation.
Polish Prime Minister Donald Tusk said it was not in Poland’s interest to extradite to Germany a Ukrainian citizen suspected of taking part in the explosions that damaged the Nord Stream gas pipelines in 2022.
Al-Harfi and SCLCO signed agreements with Syrian authorities to develop solar and wind capacity, amid an ongoing energy rapprochement between Riyadh and Damascus.
Faced with risks to Middle Eastern supply chains, Thai and Japanese refiners are turning to US crude, backed by tariff incentives and strategies aligned with ongoing bilateral trade discussions.
France intercepted a tanker linked to Russian exports, prompting Emmanuel Macron to call for a coordinated European response to hinder vessels bypassing oil sanctions.
The activation of the snapback mechanism reinstates all UN sanctions on Iran, directly affecting the defence, financial and maritime trade sectors.
Commissioner Dan Jørgensen visits Greenland to expand energy ties with the European Union, amid plans to double EU funding for the 2028–2034 period.
European and Iranian foreign ministers meet in New York to try to prevent the reinstatement of UN sanctions linked to Tehran’s nuclear programme.
Canadian Prime Minister Mark Carney announces a bilateral agreement with Mexico including targeted investments in energy corridors, logistics infrastructure and cross-border security.
The US president has called for an immediate end to Russian oil imports by NATO countries, denouncing a strategic contradiction as sanctions against Moscow are being considered.
Tehran withdrew a resolution denouncing attacks on its nuclear facilities, citing US pressure on IAEA members who feared suspension of Washington’s voluntary contributions.
Poland’s energy minister calls on European Union member states to collectively commit to halting Russian oil purchases within two years, citing increasing geopolitical risks.
Athens and Tripoli engage in a negotiation process to define their exclusive economic zones in the Mediterranean, amid geopolitical tensions and underwater energy stakes.
European powers demand concrete steps from Tehran on nuclear issue or United Nations sanctions will be reinstated, as IAEA inspections remain blocked and tensions with Washington persist.
Brussels confirms its target to end all Russian energy imports by 2028, despite growing diplomatic pressure from Washington amid the ongoing conflict in Ukraine.
Donald Trump threatens to escalate US sanctions against Russia, but only if NATO member states stop all Russian oil imports, which remain active via certain pipelines.
The two countries agreed to develop infrastructure dedicated to liquefied natural gas to strengthen Europe's energy security and boost transatlantic trade.
Ayatollah Ali Khamenei calls for modernising the oil industry and expanding export markets as Tehran faces the possible reactivation of 2015 nuclear deal sanctions.
The Ukrainian president demanded that Slovakia end its imports of Russian crude, offering an alternative supply solution amid ongoing war and growing diplomatic tensions over the Druzhba pipeline.

All the latest energy news, all the time

Annual subscription

8.25$/month*

*billed annually at 99$/year for the first year then 149,00$/year ​

Unlimited access - Archives included - Pro invoice

Monthly subscription

Unlimited access • Archives included

5.2$/month*
then 14.90$ per month thereafter

*Prices shown are exclusive of VAT, which may vary according to your location or professional status.

Since 2021: 30,000 articles - +150 analyses/week.