The role of OPEC+ in stabilizing the global hydrocarbon market

The international oil and gas market are under the powerful impact of political and economic factors that determine the unstable dynamics of its development. The most significant of them are the growth of price volatility, insufficient investments, and the interference of the "environmental lobby" into governmental management of the energy sector. The creation of the unofficial "OPEC+" format allowed the countries of the World majority to stabilize international oil markets and restore confidence in hydrocarbon raw materials as the main source of energy required to meet growing demand. Direct dialogue between major oil-producing countries allows both their governments and energy companies around the world to participate in building a new global energy architecture based on a balance of traditional and new energy sources and developing rules for a gradual transition to an ESG agenda that promotes a stable supply of energy resources at prices and volumes acceptable to both producers and consumers. Such cooperation is essential for maintaining the investment attractiveness of companies operating in the hydrocarbon market and serves as a signal for them to expand geological exploration, pipeline and refining capacity construction, and increase investment in fundamental and applied energy research.