Press Room

OPEC daily basket price stood at $71,94 a barrel Monday, 2 December 2024

‘'Age of electricity' to follow looming fossil fuel peak’’: Analysis or Science Fiction?

Vienna, Austria, 18 October 2024--In launching its World Energy Outlook 2024 (WEO), the IEA stated that “the future of the global energy system is electric.” This follows its assertion that demand for coal, oil and gas will peak by the end of the decade. Furthermore, the IEA’s Executive Director stated, “In energy history, we’ve witnessed the Age of Coal and the Age of Oil – and we’re now moving at speed into the Age of Electricity, which will define the global energy system.”

OPEC’s World Oil Outlook 2024 to be launched in Rio de Janeiro on 24 September

Vienna, Austria, 10 September 2024--The Organization of the Petroleum Exporting Countries (OPEC) will launch the 18th edition of its World Oil Outlook (WOO) at ROG.e 2024 in Rio de Janeiro, Federative Republic of Brazil.

189th OPEC Conference to take place on 10 December

The 189th (Ordinary) Meeting of the OPEC Conference will take place on Tuesday, 10 December 2024, via videoconference, under the presidency of HE Marcel Abeke, Minister of Petroleum, and President of the Conference for 2024.
 

The OPEC Conference Ministerial Meeting convenes twice a year to review the general affairs of the Organization and discuss key internal matters.

Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman held a virtual meeting on the sidelines of the 38th OPEC and non-OPEC Ministerial Meeting (ONOMM)

OPEC plus countries Saudi Arabia, Russia, Iraq, United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, which previously announced additional voluntary adjustments in April 2023 and November 2023 held a virtual meeting on the sideline of the 38th  OPEC and non-OPEC Ministerial Meeting (ONOMM).

38th OPEC and non-OPEC Ministerial Meeting

In light of the continued commitment of the OPEC and non-OPEC Participating Countries in the Declaration of Cooperation (DoC) to achieve and sustain a stable oil market, and to provide long-term guidance and transparency for the market, and in line with the approach of being precautious, proactive, and pre-emptive, which has been consistently adopted by OPEC and non-OPEC Participating Countries in the Declaration of Cooperation, the Participating Countries decided to:

Historic Vienna Agreement turns eight

Today marks the eighth anniversary of the landmark ‘Vienna Agreement’ reached at the 171st Meeting of the OPEC Conference held on 30 November 2016 in Vienna, Austria.

All sectors have a role to play in meeting the climate challenge

Article by HE Haitham Al Ghais, OPEC Secretary General.

Most of what you pay at the pump is taxes

Article by HE Haitham Al Ghais, OPEC Secretary General.

The energy mix is not a zero-sum game: oil and the electricity grid

Article by HE Haitham Al Ghais, OPEC Secretary General.

Critical minerals: a realistic assessment

Article by HE Haitham Al Ghais, OPEC Secretary General.