Organization of the Petroleum Exporting Countries (OPEC) has appointed Kuwaiti oil executive Haitham Al Ghais as its new secretary-general, as demand for oil continues to improve amid a mild recovery from the coronavirus pandemic. Al Ghais, a veteran of the Kuwait Petroleum Corporation and Kuwait’s Opec governor from 2017 to June 2021, will take the group’s reins in August, replacing Mohammad Barkindo.
The move comes as the oil exporters’ group and its allies prepare to decide on a future course for oil production. Opec+ is expected to stick to the plan and increase production by 400,000 barrels per day in Februar.