The Administrator, National Energy Administration, Mr Zhang Jianhua, the People’s Republic of China, has lauded the high-level energy dialogue between China and Organisation of Petroleum Exporting Countries (OPEC) Member Countries.

According to Jianhua, the dialogue had jointly maintained global oil market stability.

He revealed this at the Sixth High-level Meeting of the OPEC-China Energy Dialogue, held in Beijing, P.R. China, which he co-chaired with Mr Haitham Al Ghais, the OPEC Secretary-General.

According to a statement by OPEC, Zhang noted that the dialogues helped jointly in consolidating and expanding oil trade between China and OPEC Member Countries, which were both of common interest. However, he described China and OPEC as 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,” Says Zhang.

The OPEC Secretary-General, stress that OPEC attached incredible importance to its dialogue partnership with China and was determined to reinforce and strengthen it.

Meanwhile, 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.

Amb. Li Song, Permanent Representative of China to the UN and other International Organisations in Vienna, while addressing the members appreciated the steady cooperation and long-term communication that exist between OPEC and China.

Li hinted that “this contributed positively to the energy security and  global economy.

Additionally, the envoy 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.

Professionals from both sides exchanged views 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.

OPEC-China Energy Dialogue scheduled their Seventh High-level Meeting to take place at the convenient time in 2024.