6th High-level Meeting of the OPEC-China Energy Dialogue

[Joint Conclusion] The Sixth High-level Meeting of the OPEC-China Energy Dialogue was held in Beijing, P.R. China, on 16 May 2023. The Meeting was co-chaired by HE Zhang Jianhua, Administrator of the National Energy Administration, the People’s Republic of China, and OPEC Secretary General, HE Haitham Al Ghais. The Permanent Representative of the People’s Republic of China to the UN and other International Organizations in Vienna, HE Li Song, delivered an opening speech via video.

In his remarks, HE Zhang Jianhua highlighted that China and OPEC are important strategic partners. Since the establishment of the dialogue mechanism between the two parties in 2005, communication on policy has been maintained through round-table meetings and high-level dialogues, and both parties have achieved positive results in helping jointly maintain stability of the global oil market as well as consolidating and expanding oil trade between China and OPEC Member Countries, which are both of common interest.

HE Haitham Al Ghais emphasized that OPEC attaches tremendous importance to its dialogue partnership with China and is determined to reinforce and strengthen it. He noted that the parties had established a balanced, pragmatic framework for cooperation, and developed an ongoing exchange of views at all levels on energy issues of common interest. The Secretary General provided an overview of OPEC’s ongoing activities, together with 10 non-OPEC producing countries, under the ‘Declaration of Cooperation’ to support sustainable oil market stability, which benefits producers and consuming nations.

In the opening speech of HE Ambassador Li Song, he highly appreciated the stable cooperation and long-term communication between OPEC and China, which contribute positively to the global economy and energy security. The Ambassador envisaged that China’s new phase of development would open up opportunities for OPEC and its Member Countries in terms of market access, energy transition and shared prosperity. Furthermore, he pledged that the Permanent Mission of China in Vienna would continue to serve as a vital bridge in facilitating cooperation between the two parties.

Experts from both sides exchanged perspectives on the oil market outlook in the short-, medium- and longer-term, and the ongoing “Declaration of Cooperation” process, addressing sustainable development, prospects for the energy transition and other topics of mutual interest.

Both parties are committed to strengthening cooperation going forward, particularly within the realm of 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 at a convenient time in 2024.