OPEC appoints new secretary-general from Kuwait
Haitham al-Ghais of Kuwait is the named the cartel's next secretary-general.
BY MARKETWIRE, TRANSLATED BY CHRISTOFFER ØSTERGAARD
Haitam al-Ghais will be taking over the top spot at Organization of the Petroleum Exporting Countries (OPEC), succeeding Mohammad Barkindo, who has served as secretary-general since 2016, writes Bloomberg News.
According to Bloomberg News, al-Ghais has spent three decades in the oil industry, gaining experience in both Beijing and London.
"He knows OPEC inside and out," says Johannes Benigni, chair of Vienna-based consulting firm JBC Energy. "He's [...] a good analyst."
The change of management comes at a time when OPEC and its allies in OPEC+ are trying to establish a stable oil market, hoping to avoid oversupply.
OPEC+ is expected to approve yet another modest extension of the increased oil output when the alliance convenes Tuesday.
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