OPEC th International Seminar Petroleum: An Engine for Global Development 3–4 June 2015 Hofburg Palace Vienna, Austria Contact: 50 +44 7818 598178 www.opecseminar.org
[email protected] OPEC International Seminar: Advocating oil market dialogue Commentary On June 3, 2015, Austria’s famous Hofburg Palace will once again sessions which will cover a range of topical subjects that will in- open its doors to OPEC’s International Seminar. The stately building, clude global energy outlooks, oil market stability, production ca- which dates back to the 13th century, will host what promises to be pacity and investment, technology and the environment, and pros- two days of intense and lively discussion on the global oil sector. It pects for the world economy. is a striking and most fitting venue. As the former imperial residence Clearly, with so much uncertainty surrounding the interna- of the Habsburg dynasty, rulers of the Austro-Hungarian Empire, tional oil market today, high-level international energy fora such the Hofburg has been home to some of the most powerful people as the OPEC Seminar are essential for addressing the main issues in European and Austrian history. Today, part of the Palace forms and helping overcome the many challenges that exist. Striving for the official residence and workplace of the President of Austria. oil market equilibrium and limiting harmful price volatility have Throughout the annual calendar, the Hofburg also stages over been central to OPEC’s cause since the Organization’s formation 300 events — events, such as the OPEC Seminar. This will be the in 1960. And this overriding commitment to stability is why the fourth time the Organization, which has had its Headquarters in the Organization and its Member Countries have made repeated calls Austrian capital since 1965, has chosen to convene its International for cooperation among the principle energy industry stakeholders.