IEA and OPEC clash over oil investment and pricing caution

OPEC has criticized the International Energy Agency (IEA) for undermining industry investments and warned the group to be "very careful" about boosting oil prices. OPEC Secretary General Haitham al-Ghais said the group was not targeting oil prices, but instead focusing on market fundamentals. The relationship between OPEC and the IEA has been increasingly fraught in recent years, with the IEA repeatedly criticizing the pace at which the producers' alliance increased its output rates.