OPEC Secretary -General: The organization will remain an essential pillar of stability and a pivotal element in the energy industry
Abu Dhabi, September 14/ WAM/ His Excellency Haitham Al -Ghais stressed the Secretary General of the Organization of Oil Exporting Countries “OPEC” that the stability of the oil market is not a luxury but rather an inevitable necessity to consider oil an essential element in the details of daily life, indicating that his absence leads to paralysis in the means of transportation and the impact of aviation, construction, agriculture, food production and health as well as the disruption of the entire global economy artery.
His Excellency stressed in his statements on the occasion of the sixty -fifth anniversary of the founding of the OPEC that OPEC was and will remain a basic pillar of stability and a pivotal component in the energy industry and a voice that expresses the importance of oil to the world today and tomorrow and expressed his aspiration to a future in which “OPEC remains a major partner in the global energy scene for decades.
He said that the organization, which today includes 12 countries, has become a firm and recognized entity in the international community since its registration at the United Nations in 1962, explaining that “OPEC” has established during the past decades wide partnerships through energy dialogues with senior consumers, non -member producers and international organizations and participated in all climate conferences since its inception.
He added that the role of the organization is further strengthened in 2016 by signing the “Declaration of Cooperation” with a number of producers from outside it “OPEC+”, an agreement that contributed to enabling the oil and the global economy to overcome the repercussions caused by the Kofid-19s.
He stressed that oil will remain an indispensable part of the global energy system in light of the expectations of “global oil prospects 2025” to increase the demand to about 123 million barrels per day by 2050 driven by increasing population and economic growth, noting that achieving global energy security cannot take place without oil.
He explained that the continuation of the suffering of billions of people in the developing world from energy poverty requires looking at how to achieve growth in a sustainable manner that depends on various energy sources with the need to achieve a balance between the requirements of human welfare, economic development and the preservation of the environment, stressing that “OPEC” since its foundation in 1960 is still adhering to a realistic approach and a responsible stability of the market in the forefront of its priorities.
OPEC Secretary -General said that history, experiments and increasing demand for oil confirms that the talks about the decline in the role of “OPEC” or the approach of “the peak of oil” are only exaggerations, praising the achievements of the organization during its career.
Al -Ghais thanked and appreciated all the member states and all of the former and current officials and employees of the organization’s march.
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