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The blue logo of the organization of oil countries (OPEC) is displayed on the facade of the Kokwater headquarters in Vienna, Austria, June 9, 2025.
Nurphoto | Nurphoto | Gets the image
OPEC says that more than 1,000 ministers, leaders, politicians, analysts and journalists were invited to their two -year seminar to discuss key trends in the oil and gas markets and the green transition.
There were three discussions here, there were three main topics:
Green transition
During the speeches and interviews, OPEC ministers once again advocate a double approach to a green transition, which still allows investments in hydrocarbons to avoid the shortage of delivery, while the availability of renewable energy sources increases.
“Oil and gas will remain necessary. In particular, in the heavy industry and in the development of developing economies,” said Saudi Prince and Energy Minister Abdulaz Bin Salman during his special comments on Wednesday. “It is encouraging to see that many countries now take a more pragmatic view of the transition, reassessing the terms, adjustment of policy and confirmation of the role of hydrocarbons in support of energy security and competitiveness.”
OPEC Secretary General Hatem al-Gais repeated this opinion in an interview on Thursday with Dan Murphy: CNBC:
“It makes no sense that the world does not invest in all energy sources. We need to invest in technology to combat emissions and reduction of emissions,” he said.
Critics have questioned this approach – And the UAE OPEC Member of the UAE conference on the UN Climate Conference in 2023 – as a potential ejection and maintenance of the interests of the Middle East, which are heavily dependent on oil revenues. Back in the late 2021, then US President Joe Biden – called Produces OPEC+ Saudi Arabia and Russia – along with the world’s leading importer in China – because they do not do enough in the fight against climate change. By 2060, Riyadh and Moscow promised to achieve the emissions of Net-Nula’s greenhouse gas emissions, while Washington states that he would fall into this mile by 2050.
The White House has somewhat transferred to the second administration of Donald Trump, which invariably champions “the solution of American energy“And called for a higher level of internal oil.
Muttering oil
The OPEC OPEC World Oil Forecast in 2050 is more widespread than the monthly oil market report was released on Thursday, and the oil supply assessment of 18.2 million barrels of oil equivalent a day between 2024 to 2050, with India, Middle East and Africa among key drivers. The total share of oil and gas in the world energy mixture is evident that remains above 50% for the period of analysis.
Short -term demand was also at the forefront of opinions for OPEC and its allies producing oil known as OPEC+. Eight OPEC+ members – consisting of heavy weight producers and Saudi Arabia, as well as Algeria, Iraq, Kazakhstan, Kuwait, Oman and the United Arab Emirates – – July 5 Quotes “Low Oil content” and “Stable World Economic Forecast and Modern Fundamentals of the Healthy Market” as the reasons for the further acceleration of the rates of promoting their voluntary cuts in production and decision on the sale of 548,000 barrels a day in August.
Saudi Arabian Energy Minister Abdulazz Ben Salman speaks during the annual conference of the future investment initiative (FII) in Eriyada on October 29, 2024.
Fayez Nureldine | AFP | Gets the image
Speaking to journalists on Wednesday morning, UAE Energy Minister Sukhail Al-Mazrui said that “the market is deeper than what is perceived in my opinion.”
He stressed that he has no concern about the potential supply as a result of accelerated production increase.
“No, I’m not worried because we make this balance every time we make a decision. And you see that even with an increase … We have not seen the main buildings in stocks. This means that the market needs these barrels,” he said.
Capacity
OPEC ministers have resumed calls for additional investment in the oil and gas sector, to increase the power level that fell amid lower oil prices and the current green transition. The OPEC 2025 world forecast estimates that “reliably” providing markets and compensation for natural decreases in mature fields will require global oil investments in the amount of 18.2 trillion. Up to 2025-2050.
In the last world report on energy investmentThe International Energy Agency, which decreases the price of oil and supplies in 2025, will reduce by 6%, in the first year decreased from the time of the COVID-19 pandemic in 2020 and the largest decline since 2016. Global investment this year is alleged to decrease to its low in 10 years, the agency reports.
“I also have to say that increasing demand, there must be appropriate actions in terms of investment. Thus, oil and gas production and delivery – infrastructure – require investment. And these investments must be made today,” said the Energy Minister Azeri Parvodes at the Board on Wednesday.
The oil pump is considered in the field on April 8, 2025 in Nolan, Texas.
Brandon Bell | Getty Images | Gets the image
In the same conversation, the UAE al-Mazrui added: “Reality today we lose to look at the reserve capacity of the world-the number is declining from year to year. Because in the environment now in the environment, if they cannot produce what they did last year.”
He acknowledged that this is also the case among OPEC+manufacturers.
The spare potential was both the good of the disorder and the whole impact during the negotiations at the quotas, with some OPEC countries – such as Iraq, Kazakhstan and UAE – have previously fought for leaf to increase production in accordance with their higher opportunities.
Speaking mainly on the purchase, Indian oil minister Hardep Singh Puri said Dan Murphy CNBC that “prices should be stable and predictable so that it cost such a world consumer, as it also does not undermine the investment into the sector.”
