Once ridiculed, oil lobby destined to dominate the Dubai COP28 forum

Oil is an internationally traded commodity subject to global price volatility and disruptive geopolitical events. PHOTO | POOL

The oil-producing companies and countries, which only a couple of years ago were universally condemned for the global climate debacle, will likely be at the high table during the COP28 climate forum in Dubai later this month, influencing the course of the climate agenda.

The chairmanship of the forum will be a key oil-producing country, the United Arab Emirates. The oil producers have earned their current space in the past two years when they rescued the world from a serious energy crisis triggered by oil and gas supply chain disruptions caused by the Russia-Ukraine war.

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