Mr. Joe Calnan at the Foreign Affairs and International Development Committee

On October 25th, 2023. See this statement in context.

October 25th, 2023 / 5:45 p.m.

Manager, Energy Security Forum, Canadian Global Affairs Institute

I'd say that in this circumstance, it would certainly be Saudi Arabia that would make up a shortfall, because they have a significant amount of spare capacity and they've always taken their role as a balancer seriously.

However, I also need to push back on the idea that OPEC controls most of the world's oil production. It does not. OPEC controls around 40% of the world oil production. A large percentage—

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