Mr. Zhang Jianhua, Administrator of the National Energy Administration of the People’s Republic of China, has commended the significant energy dialogue between China and the Organization of Petroleum Exporting Countries (OPEC) Member Countries, stating that it has played a crucial role in maintaining global oil market stability.
The commendation was made during the Sixth High-level Meeting of the OPEC-China Energy Dialogue, held in Beijing, China. Mr. Zhang co-chaired the meeting with OPEC Secretary-General Mr. Haitham Al Ghais.
In a statement released by OPEC, Mr. Zhang emphasized that the dialogues have been instrumental in consolidating and expanding oil trade between China and OPEC Member Countries, which are mutually beneficial. He described the relationship between China and OPEC as that of important strategic partners.
“The dialogue mechanism between the two parties, established in 2005, has facilitated policy communication through round-table meetings and high-level dialogues,” Mr. Zhang stated.
OPEC Secretary-General Mr. Haitham Al Ghais underscored the importance that OPEC places on its dialogue partnership with China and expressed a determination to further reinforce and strengthen it. He highlighted the balanced and pragmatic framework for cooperation that has been established, enabling ongoing exchanges of views on energy issues of mutual interest at all levels.
During the meeting, the secretary-general provided an overview of OPEC’s ongoing activities, in collaboration with 10 non-OPEC producing countries, under the “Declaration of Cooperation.” This cooperative effort aims to support sustainable oil market stability, benefiting both producers and consuming nations.
Ambassador Li Song, the Permanent Representative of China to the UN and other International Organisations in Vienna, expressed appreciation for the stable cooperation and long-term communication between OPEC and China. Ambassador Li emphasized the positive contribution of this partnership to the global economy and energy security. He also highlighted the opportunities for OPEC and its Member Countries in terms of market access, energy transition, and shared prosperity that are expected to arise from China’s new phase of development.
Experts from both sides engaged in fruitful discussions on the short-, medium-, and long-term outlook of the oil market, as well as the ongoing “Declaration of Cooperation” process. They also addressed topics such as sustainable development, prospects for the energy transition, and other areas of mutual interest.
Both parties reaffirmed their commitment to strengthening cooperation, particularly in information and data sharing, technological exchange, and addressing issues related to the energy transition.
The Seventh High-level Meeting of the OPEC-China Energy Dialogue is scheduled to take place in 2024, providing another opportunity to deepen cooperation and enhance the dialogue between China and OPEC.