The three energy topics on everyone’s lips at the OPEC seminar

OPEC says more than 1,000 ministers, executives, policy makers, analysts and journalists are invited to a seminar every two years to discuss the main trends in the oil and gas markets and green transition.

Here were three main topics under discussion:

Critics questioned this approach – And OPEC member of the United Arab Emirates step to host the United Nations Climate Conference in 2023 – as it is possible greenery wash and the interests of the interests of the Middle East countries, which rely heavily on oil revenues. Once again in late 2021, then US President Joe Biden Call OPEC producers+ Saudi Arabia and Russia – along with the leading raw importer in the world China – not to do enough to combat climate change. Riyadh and Moscow had previously pledged to reach clear greenhouse gas emissions by 2060, while Washington says it will strike this landmark by 2050.

The White House has turned somewhat under Donald Trump’s second management, who has its own hero. “Unleash American energyHe called for a high production of local oil.

The demand was also short at the forefront of OPEC considerations and its oil -producing allies, known as Opec+. Eight OPEC+ members – includes heavy producers in Russia and the Kingdom of Saudi Arabia, along with Algeria, Iraq, Kazakhstan, Kuwait and Oman, the United Arab Emirates – On July 5 “Low oil stocks”, “fixed global economic expectations and the basics of the current health market” were martyred as reasons for increasing the acceleration of the frequency of relaxation of their voluntary discounts and making a decision to implement 548,000 barrels per day in August.

Speaking to reporters on Wednesday morning, the United Arab Emirates Energy Minister Suhail Al -Marwi said, “The market is deeper than what is imagined, in my opinion.”

He stressed that he had no concerns about the accumulation of potential supply as a result of the increase in expedited production.

“No, I am not worried, because we are doing this balance every time we make a decision. You can see that even with the increase … we have not seen a major accumulation in stocks. This means that the market needs these barrels.”

In the latest investment report in the worldThe International Energy Agency expected that the drop in oil prices and demand expectations will lead to a 6 % decrease in oil investments in 2025, in the general decline on an annual basis since the Covid-19 in 2020 and the largest decline since 2016. The global refinery investment this year is expected to decrease to its lowest levels in 10 years, according to the agency.

“I must also say that the increase in demand, there must also be appropriate procedures in terms of investments. So, oil, gas production and delivery – infrastructure – needs to be investigated. This investment should be made today,” Azerbaiji Energy Minister Parviz Shahbazov said on a committee on Wednesday.

In that same conversation, the United Arab Emirates added, “The reality today, we lose-if you look at the world’s reserve ability-this number decreases, on an annual basis. Because more countries are now in the environment when they cannot produce what they did last year.”

He admitted that this is also the case between OPEC+producers.

The reserve capacity was a grace of competing and precious financial lever during the quota negotiations, with some OPEC countries – such as Iraq, Kazakhstan and the United Arab Emirates – which previously competed for the space to increase production in line with its higher capabilities.

Speaking of the purchase often, the Minister of Petroleum Hardip Seng Buri Dan Murphy of CNBC told CNBC.