OPEC: Short-term stability key to long-term energy future

VIENNA, Aug 10 (KUNA) -- The OPEC Secretariat emphasized Sunday that short-term stability in energy markets is essential to ensuring a sustainable future for the global energy industry.
In a post on its official account on platform X, the Secretariat stressed that the world needs more crude oil and its derivatives, not less, in order to maintain economic and global energy stability.
OPEC reiterated its view that oil will remain a key component of the global energy mix for decades to come, adding that meeting the growing demand for crude is crucial to sustaining global economic growth and market stability.
The statement comes amid increasing international discussions on the transition to renewable energy sources, while oil markets continue to face challenges stemming from price fluctuations and global demand. (end) amg.seo