OPEC Holds Meetings With 2nd, 3rd Biggest Oil Consumers
by Andreas Exarheas | Rigzone Staff
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*this article was not written by Roseland Oil & Gas
OPEC revealed that it held meetings with the second and third biggest oil consumers in the world.
In statements posted on its website recently, OPEC revealed that it held meetings with the second and third biggest oil consumers in the world.
OPEC noted in one of these statements that the eighth “high-level” meeting of the OPEC-China energy dialogue had taken place in Beijing, China. The Meeting was co-chaired by Wang Hongzhi, Administrator of the National Energy Administration of the People’s Republic of China, and HE Haitham Al Ghais, Secretary General of the Organization of the Petroleum Exporting Countries, the statement highlighted.
“Discussions focused on oil market stability, energy security, and the importance of adequate and timely investment across the oil industry,” the statement noted.
“Both parties reviewed the short-, medium- and long-term outlooks, underscoring China’s crucial role in global economic expansion and energy demand,” it added.
“Against this backdrop, the critical role of oil in meeting current and future global energy demand was highlighted, with OPEC’s World Oil Outlook 2026 expecting China to remain as one of the largest contributors to global oil demand through to 2050,” it continued.
The statement outlined that, in his remarks at the meeting, Hongzhi said, “currently, the global energy landscape is undergoing profound changes, making dialogue and cooperation between oil-producing and consuming-nations crucial”.
Hongzhi went on to stress that “China has always viewed OPEC as an important power and partner in the global energy governance system”, the statement pointed out.
“Since establishing the dialogue mechanism in 2005, we have successfully held seven high-level dialogues and three roundtables together, always striving to play a constructive role in global energy governance,” Hongzhi added.
“Looking to the present and the future, China is willing to consolidate traditional friendship and deepen pragmatic cooperation with OPEC and its member countries. Together, we will address global energy challenges, contributing to global energy market stability and sustainable development, Hongzhi continued.
OPEC’s statement highlighted that, in his remarks, Al Ghais emphasized the deep ties fostered by the OPEC-China energy dialogue.
“Twenty years on from the first formal event of the OPEC-China dialogue, our relationship has grown into an enduring framework for cooperation on energy issues of common interest, particularly security of supply and demand, and market stability,” Al Ghais said, according to the statement.
“The strength of our relationship has closely developed alongside China’s remarkable economic transformation,” the OPEC Secretary General added.
“By providing affordable and reliable energy, many OPEC Member Countries have supported, and continue to support, China’s remarkable economic development,” he continued.
OPEC’s statement noted that, moving forward, both sides underlined their shared commitment to fostering deeper energy cooperation, pledging to enhance technical and high-level collaboration.
The ninth high-level meeting of the OPEC-China Energy dialogue will take place in 2027 in Vienna, Austria, the statement revealed.
OPEC-India Meeting
In another statement posted on its website, OPEC announced that the seventh high-level meeting of the OPEC-India energy dialogue had been held in New Delhi, India.
This meeting was co-chaired by Hardeep Singh Puri, India’s Minister of Petroleum and Natural Gas, and Al Ghais.
“Discussions focused on oil market stability, energy security, and the importance of adequate and timely investment across the oil industry,” OPEC noted in this statement.
“Both parties reviewed the short-, medium- and long-term outlooks, underscoring India’s crucial role in global economic expansion and energy demand growth,” it added.
The statement outlined that, in his remarks at the meeting, Puri underlined that India and OPEC share a naturally complementary and mutually beneficial relationship and thanked Secretary General for his contribution in strengthening this partnership. He emphasized that India values its longstanding engagement with OPEC and its member countries, the statement highlighted.
“As one of the world’s fastest-growing major economies, India will remain an important driver of global energy demand in the decades ahead,” Puri said, according to the statement.
“A sustained dialogue between producers and consumers is essential to support investment, strengthen energy resilience and ensure reliable energy supplies for global growth and development,” Puri added.
The statement went on to highlight that Puri called on OPEC and India to work closely in advancing a balanced, stable, and predictable global energy market.
OPEC’s statement outlined that, in his remarks at the meeting, Al Ghais said, “dialogue with India is a priority for OPEC because we recognize India’s importance within the current global energy landscape and the fact that this importance will only increase in the decades ahead”.
The Secretary General commended India’s balanced, realistic, and pragmatic approach to addressing energy challenges, emphasizing that “many of India’s energy priorities are OPEC’s priorities”, the statement pointed out.
Al Ghais also praised the Indian government’s firm commitment to international collaboration and dialogue, the statement noted.
“What is particularly heartening about our dialogue is the fact that the Indian government has consistently advocated diplomacy and dialogue as the means of resolving the great challenges of our age,” Al Ghais said, the statement highlighted.
OPEC’s statement noted that the meeting commended the progress achieved to date within the framework of the dialogue, including at the technical level. It concluded with both parties “underscoring the vital importance of fostering even deeper energy cooperation between OPEC and India”, according to the statement.
The eighth high-level meeting of the OPEC-India energy dialogue will be held at a “mutually convenient date” in Vienna, Austria, the statement revealed.
Top Oil Consumers
According to the Energy Institute’s (EI) latest statistical review of world energy, which was released earlier this year, the world’s biggest oil consumer is the United States.
The EI review showed that the U.S. consumed 19.404 million barrels of oil per day in 2025. This marked a 1.3 percent year on year increase and 18.8 percent of global oil consumption last year, the review pointed out. From 2015 to 2025, U.S. oil consumption has grown by an average of 0.5 percent every year, the review outlined.
China was the second biggest oil consumer in 2025, according to the EI report, which showed that the country consumed 17.360 million barrels of oil per day last year. This figure marked a 2.7 percent year on year increase and 16.8 percent of total oil consumption in 2025, the report revealed. From 2015 to 2025, China’s oil consumption has grown by an average of 3.9 percent every year, the review showed.
India ranked third in terms of global oil consumption, with 5.642 million barrels per day, the review outlined. This figure represented a 0.5 percent year on year increase and 5.5 percent of total oil consumption last year, according to the review, which highlighted that, from 2015 to 2025, India’s oil demand has grown by an average of 3.0 percent every year.
Total global oil consumption came in at 103.039 million barrels per day in 2025, marking a 1.3 percent year on year growth rate, the EI review showed. Global oil demand has grown by an average of 1.0 percent every year from 2015 to 2025, the review revealed.
The EI highlighted in its latest review that its oil demand figures above include inland demand, as well as international aviation, marine bunkers, and refinery fuel and loss. Consumption of biogasoline, such as ethanol, and biodiesel is excluded, while derivatives of coal and natural gas are included, the review outlined.
by Andreas Exarheas | Rigzone Staff
click here to read this article at Rigzone.com
*this article was not written by Roseland Oil & Gas