Turkish Vice President Cevdet Yılmaz urged countries to diversify energy sources and routes, Anadolu Agency reported Monday, as he said global energy costs are weighing on economies.
The agency reported that Yılmaz tied the price pressure to wars he said followed provocations by Israel. He also called for stronger regional cooperation to support energy security.
The 42nd ministerial session of the Standing Committee for Economic and Commercial Cooperation (COMCEC) of the Organization of Islamic Cooperation (OIC) is being held in Türkiye from Oct. 31 to Nov. 3, according to the committee’s schedule.
Rabobank estimated nearly 12% of global refining capacity was offline and flagged energy inflation and pressure on fuel markets, according to an earlier EconoTimes report on the estimate. The COMCEC session is scheduled to run through Nov. 3.
