OPEC+ ministers call for safe sea lanes to protect energy supplies

OPEC+ ministers met in Riyadh and said international sea routes need to remain safe so energy supplies can keep moving.

The meeting took place alongside the International Energy Forum’s 17th ministerial meeting and the 25th World Petroleum Congress.

Ministers said current disruptions to energy supplies have pushed shipping and insurance costs to unprecedented levels.

Those costs have exceeded one third of the value of the goods, making it harder to move crude oil and petroleum products on time and efficiently.

The higher costs also add pressure to prices and affect producers, consumers and global economic growth.

The ministers agreed to keep consulting OPEC+ countries through existing committees and meetings, and reaffirmed decisions made on June 7, 2026, aimed at stable oil markets.

They said they will track developments and work with governments, industry groups and international organizations to improve global shipping conditions.