The Organization of Petroleum Exporting Countries, OPEC announced the re-election of Nigeria’s Mohammed Barkindo as Secretary General for a three-year tenure.
Barkindo, who is an accomplished oil technocrat with a wealth of experience in the oil and gas sector, was first elected as Secretary General of the body in 2016.
Addressing newsmen at the end of the 176th meeting of OPEC member nations, President of the conference, Salvador Fernandez also announced a nine- month extension of the global oil production cut under the “ Declaration of Cooperation “ among member states.
The “Declaration of Cooperation”, an outcome of the Joint OPEC-Non-OPEC Producing Countries’ Ministerial Meeting held on December 10th, 2016, was effective for an initial period of six months.
The Second Joint OPEC-Non-OPEC Producing Countries’ Ministerial Meeting, which was held on May 25th, 2017 decided to extend the voluntary production adjustments for another nine months beginning July 1, 2017.
