These are the key takeaways from OPEC's biennial seminar

Energy Market Outlook - OPEC's world oil outlook forecasts significant energy growth over the next 25 years, driven by a growing global population [1][2] - The report anticipates a 23% increase in energy demand due to population growth, projecting nearly 10 billion people on the planet in 25 years [1][2] - OPEC is bullish on renewables, predicting more growth in renewables than any other single form of energy over the next 25 years [2] - The report highlights the declining use of coal over the next 25 years [9] OPEC's Role and Influence - The report suggests that OPEC plays a crucial role in managing oil market volatility, preventing extreme price fluctuations [6] - Without OPEC as a swing producer, the oil market would experience wild boom-bust price volatility, impacting consumers, producers, and governments [6][8] Hydrogen Energy - Baker Hughes plays a critical role in providing equipment for hydrogen production, including compressors and turbines [3] - Saudi Arabia is investing heavily in hydrogen and is expected to play a significant role in its future expansion [3][4]