Opec Secretary General Haitham Al Ghais confirmed that Opec has been and will remain a stable force, an essential component of the energy sector, and a voice that emphasizes the value of oil and petroleum products to the global community in the decades to come.
The fact that oil is still essential to practically every aspect of daily life further illustrates the need of market stability. Oil and products made from petroleum are crucial to societal and economic well-being. In a statement commemorating Opec’s 65th anniversary, Al Ghais noted that without them, automobiles, buses, trucks, and lorries would be stranded, airplanes would be grounded, the building industry would essentially come to a complete stop, food production would be decimated, and it would be challenging to provide health products.
Over the past six and a half decades, OPEC has been guided by its unified vision and basic objectives from 1960, which have proven to be incredibly ageless and a solid basis. With 12 member nations as of right now, OPEC is widely regarded as a well-established member of the multilateral system and global energy community. He said that on November 6, 1962, the Organization was officially registered with the UN Secretariat.
Al Ghaith claims that Opec has gained prominence and is now a well-known brand in the energy industry. When it joined several non-OPEC producers through the Declaration of Cooperation (DoC), sometimes known as OPEC+, in late 2016, this was further improved.
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