China to play constructive role in cooling down Middle East conflict: Wang Yi

China

China to play constructive role in cooling down Middle East conflict: Wang Yi

2024-10-15 00:48 Last Updated At：06:27

Concerning the regional tensions in the Middle East, China will continue to demonstrate a sense of duty as a responsible major country and play a constructive role in promoting the cooling down of the conflict, Chinese Foreign Minister Wang Yi said Monday.

Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks in a phone call with Iranian Foreign Minister Seyyed Abbas Araghchi. The two sides spoke highly of China-Iran relations, emphasizing a commitment to maintaining exchanges at all levels and promoting practical cooperation.

Araghchi said Iran is deeply concerned about the risk of an overall escalation of the current regional situation and does not want to see a further expansion of conflict.

Iran highly values China's influence in international affairs and is willing to strengthen communication and coordination with China to cool down the situation through diplomatic means, Araghchi said, adding that Israel should avoid taking risks and proceed cautiously.

Wang said that the negative impacts of the current Gaza conflict are clearly spilling over, and regional tensions are escalating continuously.

China has always advocated for resolving hotspot issues through dialogue and consultation and opposes exacerbating tensions, expanding conflicts and taking military adventures, Wang said, calling on all parties to make more efforts to safeguard regional peace and stability.

Wang said that China will proceed from the merits of the issue, strengthen communication among all parties, build a broader international consensus, and pool the strengths of all parties.

Wang said that China is pleased to see the Iranian government carry out mediation diplomacy, enhance understanding with relevant parties and improve relations with regional countries.

China supports the historic reconciliation between Iran and Saudi Arabia, and is willing to jointly push for a positive outcome from the second meeting of the China-Iran-Saudi Arabia Trilateral Joint Committee to consolidate the momentum of reconciliation between Iran and Saudi Arabia and inject positive energy into regional peace and stability, Wang added.

OPEC further cuts 2024, 2025 global oil demand forecast

2024-10-15 02:39 Last Updated At：05:17

The Organization of the Petroleum Exporting Countries (OPEC) on Monday further trimmed forecasts for global oil demand growth this year and next, marking the organization's downward revision for the third consecutive month.

In its monthly oil market report for October, OPEC projected a global oil demand growth of 1.93 million barrels per day (bpd) for 2024, down 106,000 bpd from the growth of 2.03 million bpd expected last month.

OPEC attributed the adjustment to "actual data received combined with slightly lower expectations for the oil demand performance in some regions."

Despite the third successive downward revision, OPEC said this year's world oil demand growth is "still well above the historical average of 1.4 million bpd seen before the COVID-19 pandemic."

For next year, the oil-producer group cut its 2025 global oil demand growth estimate to 1.64 million bpd from last month's assessment of 1.74 million bpd.

OPEC twice lowered its forecasts for global oil demand growth in 2024 and 2025 in its monthly market reports published in August and September. Until August, OPEC had maintained its global oil demand growth forecasts of 2.25 million bpd this year and 1.85 million bpd next year since they were first made in July last year.

Last month, eight member countries of OPEC+, a group comprising OPEC and its allies, announced an extension of their voluntary oil production cuts by two months until November. The countries will start to gradually phase out these output cuts from December.