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OPEC Chief: Market Stability Is Our Priority, Not Price Control
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OPEC Chief: Market Stability Is Our Priority, Not Price Control

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OPEC Secretary General Haitham Al Ghais told Qatar News Agency that ensuring the stability and balance of global oil markets is at the forefront of the organization's strategic priorities, and that its policies are not aimed at directing or determining oil price trends.

Navigating Strait of Hormuz Disruptions

OPEC member states have adopted alternative logistical solutions and routes to mitigate supply constraints from geopolitical tensions in the Strait of Hormuz, ensuring continued energy flow to global markets.

Secretary General Al Ghais described the recent security developments in the Middle East as a temporary situation that has been addressed with proactive solutions, emphasizing that diplomacy remains the best path to lasting stability.

Massive Investment Needed to Meet Rising Demand

Meeting the anticipated growth in global demand will require cumulative oil investments reaching $17.7 trillion by 2050, according to Al Ghais, who warned of the dangers of insufficient funding in the traditional energy sector.

Global oil demand is projected to rise annually to 124 million barrels per day by 2050, driven by a population increase of 1.4 billion, a doubling of the global economy, and continued urbanization.

Redefining Energy Policy for a Complex World

Al Ghais proposed replacing the term 'energy transitions' with 'energy additions', noting that the world recorded unprecedented levels of simultaneous consumption of coal, oil, gas, and renewable energy in 2025.

He emphasized that energy sources complement each other rather than compete, pointing out that 655 million people worldwide lack access to electricity and 2 billion suffer from a lack of safe cooking fuel.

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Sawir: Qatar News Agency General Xigasho

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SONNA English•Sep 26, 2026

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