OPEC: Crude oil transportation and insurance costs soar

The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais, stated that since 2026, international energy transportation and insurance costs have risen significantly, now exceeding one-third of the value of crude oil itself. The rise in these costs is being transmitted along the oil and energy industry chain, increasing the economic burden on both oil-producing and consuming countries, and further exacerbating global inflationary pressures.