OPEC

On the sidelines of SPIEF 2026, HE Haitham Al Ghais, OPEC Secretary General, held a constructive meeting with HE Ricardo Menéndez, Sectoral Vice President for Planning of the Bolivarian Republic of Venezuela and his accompanying delegation.

HE Menendez expressed his appreciation to the efforts placed by OPEC and OPEC+ in enabling sustainable oil market stability and underlined the importance of such ongoing efforts for Venezuela and its national economic growth and development plans.

HE Al Ghais acknowledged the role of Venezuela in OPEC under the able leadership of HE Dr Delcy Rodriguez, Acting President of the Bolivarian Republic of Venezuela, in supporting the decisions of the OPEC and non-OPEC Declaration of Cooperation (DoC) since 2016, and appreciated Venezuela’s role as a founding member of OPEC over the years and decades.

HE Al Ghais also commended the efforts being undertaken by the Venezuelan Government and its oil and gas sector in restoring stability and growth to the critically important energy sector of the country and highlighted its importance for the national economy.

The 145th Meeting of OPEC’s Economic Commission Board (ECB) scheduled for June 1-2 commenced today under the chairmanship of Secretary General HE , and is attended by National Representatives of OPEC Member Countries.

Reflecting on current events, HE Al Ghais highlighted that “recent history attests to the resilience of the global economy and the oil market. During the volatile COVID-19 days, many feared lasting disruption. Yet both recovered strongly, demonstrating the adaptability and endurance of our industry, and the ever-growing demand for oil and its products. ”

HE Al Ghais reiterated the important role that the twice-yearly meetings of the ECB plays in OPEC decision-making, with the current meeting providing essential technical inputs for the upcoming 193rd Meeting of the OPEC Conference and the 41st OPEC and Non- OPEC Ministerial Meeting.