OPEC+ Warns: Shipping and Insurance Costs Exceed One-Third of Shipment Value, Threatening Global Energy Market Stability
OPEC+ warns that shipping and insurance costs have reached unprecedented levels, exceeding one-third of shipment values, disrupting energy flows and increasing inflationary pressures.
OPEC+ countries have warned that shipping and insurance costs have reached unprecedented levels, exceeding one-third of shipment values, amid escalating disruptions affecting energy flows through international sea routes.
The member countries emphasized that the rising costs of shipping and insurance hinder the efficient transport of crude oil and its derivatives, placing additional burdens on both producing and consuming countries, and negatively impacting the trajectory of global economic growth.
The group stressed that protecting international sea routes has become an urgent necessity to ensure the uninterrupted flow of energy, noting that disruptions to these flows, alongside rising shipping and insurance costs, exacerbate inflationary pressures on the global economy.
In this context, OPEC+ announced its full commitment to the decisions of June 7, 2026, as a fundamental pillar for achieving and maintaining oil market stability, affirming that it will continue to closely monitor the situation and coordinate with governments and international organizations to improve global shipping conditions.