Tag: OPEC

OPEC states that in the OECD economies, the growth observed in the US in 2024 is set to moderate slightly in 2025.

According to OPEC, the global oil demand growth forecast for 2024 has been revised down slightly to 1.6 million barrels per day, while world economic growth projections remain steady at 3.1% for 2024 and 3.0% for 2025.

On 16 November, APEC concluded their summit by issuing declarations which include a strong commitment to promoting the use of electronic trade-related documents, and the electronic Bill of Lading (eBL) in particular.

OPEC has critiqued IEA’s World Energy Outlook 2024 by arguing that some of IEA’s visions and estimates don’t align with current energy realities.

The Organization of the Petroleum Exporting Countries (OPEC) has released its Monthly Oil Market Report for October 2024, providing key insights into the current state of the global oil market.

The 2024 OPEC World Oil Outlook (WOO) was launched on 24 September at the ROG.E conference in Rio de Janeiro, Brazil.

The International Union of Marine Insurance (IUMI) presented its analysis of the latest marine insurance market trends at its 150th annual conference in Berlin, Germany.

The OPEC+ countries, which previously announced additional voluntary cuts in April and November 2023, including Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria, and Oman, held a virtual meeting on September 5th, 2024, during which the eight member countries emphasized their collective resolve to ensure full compliance with the voluntary production adjustments.

The International Maritime Organization (IMO) has notified the Director of the IOPC Funds, Gaute Sivertsen, that the Republic of Iraq deposited its instrument of accession to the 1992 Fund Convention on 5 August 2024. 

OPEC Secretary General Haitham Al Ghais emphasizes that electrification is often misrepresented as a direct rival to oil, perpetuating the myth that these energy sources operate in isolation.