The problem for the global oil market is that it has the capacity to supply even more. So now suppliers will be seeking market share as demand falls.

That means prices will fall further if demand drops and artificial supply restraints (market rigging by OPEC+) can’t keep up.

Umbrella Group of rich countries represented by Australia said in a final plenary that the fossil fuel era was coming to an end.

Zambia said there was “climate love” in Dubai at the COP28 talks, a gathering which could be seen as successful; more needs to be done.

Germany said COP28 is having a “great ending”.

“We feel and see you” Germany envoy said of countries who were crying (and not tears of joy, either). Marshall Islands and Samoa were cited as being sad.

Saudi Arabia on behalf of 22 member League of Arab States: mitigation, CCS, support tools, technology transfer. Broadcast abruptly ends.