Sunday 22 Dec
OPEC has renewed the mandate of its Secretary-General, Haitham Al-Ghais, for another three-year term starting from August 1, 2025.
Al-Ghais, a veteran of Kuwait's oil sector with over 30 years of industry experience, previously served in key roles in Beijing and London. The renewal was decided at the 189th Ordinary Meeting of the OPEC Conference, which also reviewed the Secretary-General's report and internal matters.
The Conference also appointed Ademola Adeyemi-Bero,
Governor for the Federal Republic of Nigeria to OPEC, as President of the Board
of Governors for 2025, and Adeeb Al-Aama Governor for Saudi Arabia to OPEC, as
Alternate President for the same period.
Last week, the OPEC+ alliance
agreed to postpone a series of planned supply increases. The initial increase
of 180,000 barrels per day, scheduled for January, will now begin in April.
This decision comes as oil prices face downward pressure amid concerns of
potential oversupply.
Notably, the decision coincided with the eighth anniversary of the declaration of cooperation between OPEC member countries and non-OPEC oil-producing countries
