OPEC Secretary-General Haitham Al Ghais said on Nov. 4 that since 2026 international energy transport and insurance costs have risen sharply and now exceed one-third of crude oil’s value. Rising transport and risk costs are transmitting along the oil

2026-11-05

OPEC Secretary-General Haitham Al Ghais said on Nov. 4 that since 2026 international energy transport and insurance costs have risen sharply and now exceed one-third of crude oil’s value. Rising transport and risk costs are transmitting along the oil and energy supply chain, increasing economic burdens on oil-producing and consuming countries and further adding to global inflationary pressure.