The Seventh IEA-IEF-OPEC Symposium on Energy Outlooks took place on 15 February 2017 at the IEF Headquarters in Riyadh, Saudi Arabia. Dr Sun Xiansheng, the Secretary General of the International Energy Forum opened the Symposium together with the Secretary General of the Organization of the Petroleum Exporting Countries, HE Mohammed Sanusi Barkindo and the Director, Sustainability, Technology and Outlooks of the International Energy Agency, Dr Kamel Ben Naceur.
HE Khalid Al-Falih, Minister of Energy, Industry and Mineral Resources (Saudi Arabia), delivered a keynote speech, and participants also received a special address delivered on behalf of HE Shamshad Akhtar, Under Secretary General of the United Nations & Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP).
Dr Sun Xiansheng, IEF Secretary General, moderated discussions of the first session with a focus on the latest OPEC and IEA energy outlooks and a comparative analysis of short-, medium-, and long-term energy outlooks released by the IEA and OPEC in 2016 provided by the IEF-RFF Introductory Background Paper. HE Sheikh Mohammed bin Khalifa Al Khalifa, Minister of Oil, Bahrain chaired Session II on Industry views on short-, medium-, and long-term energy outlooks, and HE Mohamed Zayed Awad Mousa, Minister of Petroleum, Sudan chaired the final session on the subject of Transportation.
The International Energy Agency (IEA) and the Organization of the Petroleum Exporting Countries (OPEC) each year publish energy market outlooks based on the rigorous analysis of available statistical data, market fundamentals, macroeconomic developments, policy trends and assumptions. In addition, on the occasion of the biennial International Energy Forum Ministerial meetings, both organisations present focused findings that they derive from their analysis and outlooks. The Seventh Symposium is part of a wider trilateral work programme undertaken by the IEA, IEF and OPEC in recognition of mandates from the Energy Ministers of the IEF and G20 countries. The underlying principle of the Symposium is to improve transparency, and facilitate comparability among the various outlook scenarios, and help advance a data-driven and well informed producer-consumer dialogue.
In addition to the Joint IEA-IEF-OPEC Symposia on Energy Outlooks, the joint collaboration involves High-Level Workshops on Physical and Financial Energy Market Interactions and Gas and Coal Market Outlooks.
Additional detail about the Seventh Joint Symposium will be forthcoming shortly.