IEA, IEF, and OPEC Convene for 11th Joint Workshop on Energy Market Interactions
The 11th Joint IEA-IEF-OPEC Workshop on the Interactions between Physical and Financial Energy Markets was held at the OPEC Secretariat in Vienna, Austria. The event brought together top officials and experts to discuss key challenges and dynamics shaping today’s global energy markets.
The high-level workshop was co-chaired by OPEC Secretary General HE Haitham Al Ghais, IEF Secretary General HE Jassim Alshirawi, and Ms. Toril Bosoni, Head of the Oil Industry and Markets Division at the IEA.
Discussions were structured into three main sessions:
- Oil Market Volatility: Analyzing recent drivers of volatility in the oil sector.
- Global Oil Trade and Benchmarks: Examining inter-regional trade flows, arbitrage opportunities, and their influence on crude benchmarks.
- Financing Energy Development: Exploring funding strategies to sustain investment in oil and gas projects.
HE Haitham Al Ghais emphasized the need for $17.4 trillion in cumulative oil investments by 2050 to meet rising demand and offset natural decline rates. He stressed that investment stability hinges on a balanced, predictable oil market.
HE Jassim Alshirawi called for more inclusive dialogue and a three-pronged strategy to tackle the energy trilemma: enhancing predictability, integrating energy policies, and boosting transparency in both physical and financial markets.
Ms. Toril Bosoni pointed out increasing market volatility and underscored the value of cross-sector collaboration to better understand the interlinkages between physical supply and financial trends.
This workshop is part of an ongoing trilateral initiative endorsed by energy ministers since 2010 to promote transparency, collaboration, and informed policymaking in the evolving energy landscape.
