OPEC Market Share Expected to Increase to 40% by 2040-2045: Secretary General


OPEC Market Share Expected to Increase to 40% by 2040-2045: Secretary General

TEHRAN (Tasnim) – The secretary general of the Organization of Petroleum Exporting Countries (OPEC) said the organization's market share is expected to rise to 40% by 2040-2045.

Haitham Al Ghais pointed out that this will happen after production decreases from countries outside OPEC+ or outside OPEC.

The US production is expected to decrease by 2029-2030, as well as other countries, Reuters reported.

Al Ghais is in Vienna, the capital of Austria, where the 8th OPEC International Seminar is underway.

The two-day seminar started at the Hofburg Palace on Wednesday, bringing together the representatives from top oil-exporting countries as well as chief executives from global energy majors, SHANA reported. 

This year’s main theme of the event is "Towards a Sustainable and Inclusive Energy Transition".

On the sidelines of the 8th OPEC International Seminar, Iranian Oil Minister Javad Owji held high-profile talks with his Saudi Arabian and Emirati counterparts to discuss bilateral ties and issues of mutural interest. 

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