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OPEC+ Reports High Shipping Costs
Due to the unprecedented rise in shipping and insurance costs on oil tankers, which have exceeded one-third of the value of oil shipments, OPEC+ ministers warned that these increases hinder the transportation of oil and cause disruptions in global supply chains, thereby placing additional pressure on the international economy and exacerbating inflationary pressures. The statement confirmed that this rise affects various stages of the petroleum value chain and results in increased financial burdens on producing and consuming countries. Emphasis was placed on the importance of protecting maritime routes to ensure supply stability and reduce the inflationary impacts on markets. The ministers also highlighted ongoing monitoring of developments and coordination with international organizations to improve shipping conditions and restore market stability.
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