The OPEC Secretary General, Haitham Al Ghais, has underscored the role of coordinated producer engagement in maintaining oil market stability, speaking at a ministerial panel during the St. Petersburg International Economic Forum 2026 (SPIEF 2026) in Russia.
Al Ghais said the Organization of the Petroleum Exporting Countries (OPEC) and countries participating in the Declaration of Cooperation remain central to global energy dialogue, arguing that structured collaboration among producers has helped cushion volatility in the oil market while supporting the long-term interests of both producing and consuming nations. He also linked the framework to broader global economic stability at a time of continued energy transition pressures and geopolitical uncertainty.
The panel, titled “Global Energy Systems: How the World’s Energy Sector Responds to Challenges and Risks,” brought together several senior energy officials and industry figures.
Among them were Saudi Arabia’s Energy Minister Abdulaziz bin Salman Al-Saud, Russian Deputy Prime Minister Alexander Novak, Egypt’s Petroleum and Mineral Resources Minister Karim Badawi, and Serbia’s Energy Minister Dubravka Djedovic Handanovic.
Also participating were Philip Mshelbila of the Gas Exporting Countries Forum, Russian presidential special representative for investment and economic cooperation Kirill Dmitriev, and Alexander Dyukov.
The discussions seek to navigate fluctuating demand signals, energy security concerns, and the policy direction of the global energy transition. Participants at SPIEF 2026 stressed on coordinating and investment stability in managing those pressures, particularly for developing and emerging economies exposed to price volatility.
