Ramazan Ali Sangdooni, in an interview with Shana reporter, elaborated on the role of the Organization of the Petroleum Exporting Countries (OPEC) in global markets, stating: OPEC, by coordinating the oil policies of member countries and managing the supply quantity, has been able to prevent severe price shocks and market instability at various times. With a production capacity of over 30 million barrels of oil per day, this organization continues to be one of the main players in the global energy arena.
The Role of OPEC in Preventing Price Fluctuations
Sangdooni emphasized that the importance of OPEC's role in the global oil market becomes more apparent when we realize that oil remains one of the main energy carriers in the world, and any serious disruption in its supply can impact the global economy, inflation, transportation, and even the energy security of countries. OPEC has sought to establish a balance between the interests of producers and consumers by forming oil consortia and collaborating among oil-producing countries.
Challenges Facing OPEC and the Need for Flexibility
A member of the Energy Commission of the Parliament pointed out the challenges facing OPEC, such as the development of renewable energies, the energy transition, changing consumption patterns, and geopolitical pressures, noting: The continued effectiveness of this organization requires flexibility, cohesion among members, and a precise understanding of global market developments. In the current situation, OPEC must make the necessary updates to its policies to remain an effective entity in the oil market.
Sangdooni also emphasized the importance of Iran's active and influential presence in OPEC, stating: For Iran, this organization serves not only an economic role but also as an important platform for strengthening energy diplomacy and maintaining Iran's position in global oil equations. After 66 years, OPEC remains one of the main pillars of governing the global oil market, and the elimination or weakening of its role could lead to increased volatility and uncertainty in the energy market.
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