Is Soudi Arabia Trying to Cool the Oil Price Rally?

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Soudi arabia has decided that it's time to start trying to cool the global oil price rally. The soudies have also asked for immunity for mohammed bin saman. David pilling visits a massive geo thermal energy plant in kenya, which is part of the reason why kenyo now get 75 % of its electricity from renewables. In africa, many countries are asking, can we leap frog write to renewables and still develop our economies, or when we need fossil fuels to industrialize?

Global investors are returning to China’s stock markets after a widespread sell-off earlier this year, and Opec and its allies on Thursday agreed to accelerate oil production in July and August. Plus, the FT’s David Pilling explains whether African countries can move away from fossil fuels and toward greener economies.

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Mentioned in this podcast:

Investors return to Chinese stocks after Covid and geopolitics triggered sharp sell-off

Opec agrees to accelerate oil production following US pressure

Can Africa grow without fossil fuels?

The FT News Briefing is produced by Fiona Symon, Sonja Hutson and Marc Filippino. The show’s editor is Jess Smith. Additional help by Peter Barber, Michael Lello, David da Silva and Gavin Kallmann. The show’s theme song is by Metaphor Music. Topher Forhecz is the FT’s executive producer. The FT’s global head of audio is Cheryl Brumley.

Read a transcript of this episode on FT.com

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