OPEC: Meeting with China reflects the importance of partnership in supporting oil market stability and enhancing energy security

OPEC Secretary-General Haitham Al-Ghais said on Thursday that the meeting with China reflects the importance of the partnership between the two sides in supporting the stability of global oil markets and enhancing energy security amid continued growth in global energy demand.

Al-Ghais added in a statement to the Kuwait News Agency (KUNA) that China’s pivotal role in supporting global economic growth and energy demand underscores the importance of coordinating with Beijing on developments in oil markets and future needs, thereby contributing to global market stability.

He emphasized that the OPEC-China meeting presents an opportunity to strengthen cooperation between the two sides on energy issues of mutual interest, exchange views on oil market outlooks, and enhance investments across various segments of the oil industry.

It is worth noting that the eighth high-level Energy Dialogue between the Organization of the Petroleum Exporting Countries (OPEC) and China was held on Wednesday in the Chinese capital, Beijing, with the participation of several senior officials from the energy sector. The meeting was co-chaired by OPEC Secretary-General Haitham Al-Ghais and Wang Hongzhe, Chairman of China’s National Energy Administration.

Wang Hongzhe stressed that the global energy sector is currently undergoing profound changes, making dialogue and cooperation between oil-producing and consuming countries of paramount importance. He emphasized the need to strengthen cooperation with OPEC and its member states to address global energy challenges.

Al-Ghais, for his part, highlighted the depth of relations fostered by the OPEC-China Energy Dialogue, noting that 20 years have passed since the first official dialogue event between the two sides. He pointed out that the relationship has evolved into a sustainable framework for cooperation on shared energy concerns, particularly supply security, energy demand, and market stability.

Both sides clarified that OPEC’s World Oil Outlook 2026 report projects China to remain one of the largest contributors to global oil demand growth through 2050. They also announced that the ninth high-level OPEC-China Energy Dialogue will be held in 2027 in Vienna, Austria.