{
  "id": 5949005,
  "title": "Stabilizing oil markets is absolute priority, not price manipulation: OPEC Secretary General",
  "url": "https://urgent.news/2026/09/06/stabilizing-oil-markets-is-absolute-priority-not-price-manipulation",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-06T08:41:22.000Z",
  "source": {
    "name": "The Peninsula Qatar",
    "slug": "the-peninsula-qatar",
    "url": "https://thepeninsulaqatar.com/article/06/09/2026/stabilizing-oil-markets-is-absolute-priority-not-price-manipulation-opec-secretary-general"
  },
  "original_language": "en",
  "account": "Doha, Qatar - The Secretary General of OPEC, Haitham Al Ghais, emphasized that stabilizing the global oil markets is OPEC's top priority, insisting that the organization's policies do not seek to manipulate oil prices. In an interview with Qatar News Agency, Ghais expressed confidence in OPEC's decisions, foreseeing their positive impact on the global economy by preventing sharp energy supply fluctuations.\n\nMember states have adopted alternative logistical solutions to address supply constraints caused by geopolitical tensions in the Strait of Hormuz, ensuring the continuous flow of energy to global markets, said the Secretary General. He noted that recent security concerns in Middle East maritime routes are temporary, with proactive solutions already in place.\n\nGhais stressed that member states have proven their resilience and reliability as a consistent energy supply source, reaffirming that oil will remain essential to daily life and that diplomacy remains the best approach for lasting solutions. He warned of the risks associated with insufficient funding in the traditional oil sector, stating that meeting global demand growth by 2050 will require cumulative investments of $17.7 trillion.\n\nOPEC's World Oil Outlook 2050 report projects a steady increase in global oil demand, reaching 124 million barrels per day by 2050, fueled by population growth, economic expansion, and urbanization. Ghais suggested redefining climate policies by shifting from \"energy transitions\" to \"energy additions,\" highlighting the ongoing simultaneous use of coal, oil, gas, and renewables in 2025.\n\nHe explained that various energy sources complement each other, with renewable energy technologies relying on oil derivatives. Ghais noted that 655 million people lack access to electricity, and 2 billion rely on unsafe cooking fuels, emphasizing the need for a comprehensive energy strategy. Regarding the short-term market outlook, he mentioned robust market fundamentals, projecting global economic growth of 3% in 2026, supported by the US economy and AI investments in Asia. OPEC anticipates global oil demand growth of 600,000 barrels per day in 2026, balanced by non-OPEC+ oil liquids production expansion to 54.8 million barrels per day, led by major producers like Brazil, the US, Canada, and Argentina.",
  "summary": "<p>Doha, Qatar: Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), HE Haitham Al Ghais stressed that ensuring the stability and balance of global oil markets is at the forefront of the OPEC's strategic priorities, clarifying that its policies are not aimed at directing or determining oil price trends.</p> <p>In an exclusive interview with Qatar News Agency (QNA),…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}