Oil
OPEC warns high shipping and insurance costs hurt energy flows
OPEC and partner ministers report that soaring maritime transport and insurance expenses are disrupting global energy trade.
Key points
- Shipping and insurance expenses exceed one third of commodity values.
- Ministers note the costs exacerbate global inflationary pressures.
- Officials plan to engage stakeholders to improve maritime conditions.
Rising transport expenses
According to Reuters reporting by Insurance Journal, ministers representing OPEC and allied participating countries stated that maritime transport and insurance expenses have reached historic highs. The officials convened in Riyadh during joint energy gatherings to address how these elevated overheads now exceed one third of the total value of commodities.
Economic impacts
The ministerial group highlighted that logistical disruptions are hindering the smooth transit of petroleum products and crude oil. Reuters reported that the officials warned these bottlenecks are intensifying inflationary pressures worldwide, while adding financial strain to both suppliers and buyers.
Next steps
The participants announced plans to maintain close oversight of maritime conditions. They intend to consult with industry participants, national governments, and international bodies to seek solutions for the logistics sector.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Crude benchmarks move budgets, currencies and inflation in producer and importer countries alike. For economies such as Nigeria, where fuels dominate exports, production and refining decisions move the whole economy.
9.5% of world merchandise exports were fuels in 2025Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
