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OPEC to meet on Monday to discuss new top official – sources

Stock Markets3 hours ago (Jan 02, 2022 18:15)

© Reuters. FILE PHOTO: A 3D printed oil pump jack is seen in front of displayed stock graph and Opec logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/Illustration

LONDON (Reuters) – OPEC ministers are due to hold a meeting on Monday to discuss the appointment of a new secretary general, two OPEC sources said, with Kuwait’s candidate for the job holding widespread support from the group.

Haitham al-Ghais, a former Kuwaiti governor to the Organization of the Petroleum Exporting Countries, is the only candidate for the role, OPEC sources have said.

Current OPEC Secretary General Mohammad Barkindo of Nigeria, who helped clinch a deal with non-OPEC producers such as Russia to cut global oil output to balance the market, is due to step down at the end of July once his second three-year term ends.

OPEC and its allies, known as OPEC+, is due to hold a separate meeting on Tuesday to decide output policy.

OPEC+, which is unwinding record output cuts made last year, is likely to stick to existing policy and confirm an output increase of 400,000 barrels per day in February.

OPEC to meet on Monday to discuss new top official – sources

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