OPEC’s 60th Anniversary Celebration Postponed

OPEC’s 60th Anniversary Celebration Postponed
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OPEC’s 60th Anniversary Celebration Postponed

OPEC’s 60th Anniversary Celebration Postponed

The celebrations of OPEC’s 60th Anniversary, which were originally scheduled this month in Baghdad where the Organization was founded, have been postponed.

Mohammad Sanusi Barkindo, OPEC Secretary General, said in statements on Friday that he received a letter from Ihsan Abdul Jabbar Ismaael, Iraq’s Oil Minister stressing that it is “genuinely disappointing not to be able to host the 60th Anniversary” following months of preparations for the historic event.

“The health and safety of all are of utmost importance,” the Minister noted.

Barkindo expressed his sincere gratitude for Iraq’s gracious initiative to host OPEC’s Diamond Anniversary in the Al-Shaab Hall in Bab Al-Muaadham, Baghdad, the site of OPEC’s founding in 1960.

“It is very unfortunate that we are unable to mark OPEC’s Diamond Anniversary in September at the same site where the historic ‘Baghdad Conference’ was held between 10 and 14 September 1960," he said.

"It was a historic meeting in all senses that saw the common vision and wisdom of our Founder Members and led to the creation of a foresighted organization that grew in stature and influence to become a distinguished entity within the global energy community,” Barkindo noted.

OPEC is an intergovernmental organization that was established on 14 September 1960 in Baghdad by its five Founder Members: Iran, Iraq, Kuwait, Saudi Arabia and Venezuela. Its membership has grown since then to 13 oil producing countries.

This month, OPEC is also marking the 55th year since the Organization’s Secretariat moved to the Austrian capital of Vienna.



GASTAT: Saudi Industrial Production Index Up 2.0% in March 2025

GASTAT released on Sunday its Industrial Production Index (IPI) for March 2025
GASTAT released on Sunday its Industrial Production Index (IPI) for March 2025
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GASTAT: Saudi Industrial Production Index Up 2.0% in March 2025

GASTAT released on Sunday its Industrial Production Index (IPI) for March 2025
GASTAT released on Sunday its Industrial Production Index (IPI) for March 2025

Saudi Arabia’s General Authority for Statistics (GASTAT) released on Sunday its Industrial Production Index (IPI) for March 2025, revealing a 2.0% increase in the overall index compared to March 2024.
According to the data, manufacturing activities recorded a significant growth of 5.1% on an annual basis, and the index of water supply, sewerage, waste management, and remediation activities also increased by 15.0%.
The mining and quarrying activity saw a slight decrease of 0.2%, and the electricity, gas, steam, and air conditioning supply index also declined by 0.9%.
The IPI for main economic activities showed a modest 0.5% rise in the oil activities index, while non-oil activities recorded a substantial increase of 5.6% compared to March 2024.
GASTAT issues the IPI monthly to measure relative changes in the volume of industrial output. The index is calculated based on the industrial production survey, which samples establishments in key industrial sectors including mining and quarrying, manufacturing, electricity, gas, steam and air conditioning supply, water supply, sewerage, waste management, and remediation.