​The discussions were held in an informal setting and included OPEC making a short presentation on recent oil market developments. In this regard, HE Barkindo also provided background on the decision taken by the Organization at the 170th (Extraordinary) Meeting of the OPEC Conference. This included the consultations that led to the landmark decision of the OPEC-14, and how this will help restore balance and sustainability to the oil market.

​HE Barkindo also emphasized the important role of non-OPEC producing countries in the market rebalancing process, reflecting on the need for a broad and inclusive approach to deliver the sustainable stability valued by all producers, and consumers.

​Besides short-term oil market prospects, the discussions also covered the medium- to long-term outlook, including market trends and uncertainties, primarily driven by the economy, energy policy directions and technology.

​The open exchange of views was appreciated by both parties and it was agreed that it would be beneficial to continue with such technical interactions on oil and energy-related issues on a regular basis.

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