Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi and OPEC Secretary General Haitham Al Ghais held a bilateral meeting in Abu Dhabi on the sidelines of ADIPEC 2024.

Al Ghais highlighted the historical role that Egypt played helping in establishing OPEC as the “Gentleman’s Agreement” in 1959 in Cairo paved the way for the establishment of OPEC in Baghdad in September 1960.

Among discussed topics were the importance of OPEC’s role in promoting stability in the global oil market since its founding and the positive effects of these endeavors on the global economy and energy security.