By: Oil & gas middle east

The landmark Declaration of Cooperation (DoC) between OPEC member countries and ten non-OPEC oil-producing nations has marked its ninth anniversary this month, highlighting nearly a decade of coordinated efforts to stabilize the global oil market. Established in December 2016 following meetings in Vienna, the framework brought together producers including Russia, Kazakhstan, Oman, and Mexico to collectively address market conditions.

The agreement built upon earlier accords such as the Algiers Accord and the Vienna Agreement. Since its inception, the DoC has served as a central mechanism for dialogue and coordinated action among participating countries, aimed at supporting market stability, energy security, and sustainable global economic growth.

Commenting on the anniversary, OPEC Secretary General HE Haitham Al Ghais stated that the DoC demonstrated the necessity and value of sustained multilateral cooperation. He noted that the framework's longevity is underpinned by trust and transparency among participants. Al Ghais expressed confidence that the cooperation would continue to evolve, with OPEC and its partners set to mark the agreement’s 10th anniversary in 2026.