OPEC Prioritizes Oil Market Stability Over Price Manipulation

OPEC's Secretary General, Haitham Al Ghais, emphasized that stabilizing oil markets is their top priority, not manipulating prices. He made this statement during an exclusive interview with Qatar News Agency (QNA).

Ghais stressed the importance of ensuring global oil market stability and balance, saying OPEC's policies are not aimed at directing or determining oil price trends.

The Secretary General also highlighted the impact of geopolitical tensions in the Strait of Hormuz on energy supplies. He noted that member states have adopted alternative logistical solutions and routes to mitigate these effects and ensure continued energy flow to global markets.

Ghais warned about the dangers of insufficient funding in the traditional sector, stating that meeting anticipated growth in global demand will require cumulative oil investments reaching $17.7 trillion by 2050.