OPEC Secretary General Haitham Al Ghais has reiterated the Organization of the Petroleum Exporting Countries’ commitment to support market stability and emphasized the need for long-term investment in all energies to meet expected future demand growth.
Al Ghais spoke on Thursday at the 16th High-Level Meeting of the Energy Dialogue between OPEC and the European Union (EU) at the European Commission Headquarters in Brussels.
The meeting was co-chaired by Al Ghais and European Commissioner for Energy and Housing Dan Jørgensen.
The dialogue was first established in 2005, making it OPEC’s longest-standing dialogue. Since then, the cooperation has included 16 high-level, five technical and numerous bilateral meetings in both Vienna and Brussels, ten joint studies, the co-hosting of numerous workshops and roundtables and the facilitation of valuable exchanges on energy market outlooks.
Al Ghais reflected on the productive collaboration between the two organizations over more than two decades, and emphasized the value of exchanging views on energy issues of common interest.
The importance of the dialogue is evident in a dynamically evolving global environment, which creates challenges for global energy markets and the global economy more broadly, Al Ghais said.
Moreover, he underscored the benefits of dialogue to help navigate market challenges, reiterating OPEC’s commitment to support market stability and emphasizing the need for long-term investment in all energies to meet expected future demand growth.
Discussions focused on the current oil and energy market outlook, including supply and demand dynamics, macroeconomic conditions, the evolving global energy mix and the need for balanced and realistic approaches to future energy pathways. The meeting also highlighted the need for all energies to help deliver energy security and energy availability, and all technologies to help achieve emissions reductions.
OPEC reiterated its commitment to maintaining open and constructive dialogue and to continue strengthening cooperation within the framework of the OPEC-EU Energy Dialogue.
It was agreed that the next High-Level Meeting of the OPEC-EU Energy Dialogue will take place in November 2026 in Vienna.
