Kuwaiti oil executive al-Ghais replace Nigerian Mohammed Barkindo as OPEC Secretary-General

Top oil-producing nations named Kuwaiti oil executive Haitham al-Ghais as the next OPEC Secretary-General on Monday (OPEC).
Al-Ghais will succeed Nigerian Mohammed Barkindo, who led the organization for two terms.

Al-Ghais is the Kuwait Petroleum Corporation’s Deputy Managing Director (KPC).
His extensive industry experience includes work for the state oil corporation in Beijing and London.

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Al-Ghais was appointed by acclamation and will begin his three-year term on August 1.
In 2020, the group drastically reduced oil output due to the coronavirus pandemic.
OPEC and its ten allies, including Russia, gradually reopened the tabs last year, and prices rose.
The Vienna-based organization has 13 members, led by Saudi Arabia, that fix output to control prices, dubbed OPEC+.
OPEC+ has so far resisted pressure from major oil consumers like the US to increase output.
On Tuesday, all 23 OPEC+ members will meet via videoconference to keep the pace and modestly boost output.

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OPEC’s general secretary has no executive power but is the public face of the organization, which includes Saudi Arabia and Iran.
Faced with the pandemic, the group said Barkindo was “instrumental in expanding OPEC’s historical efforts to support sustainable oil market stability through enhanced dialogue and cooperation with many energy stakeholders.”