The
Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has been
elected the first female president of the Organisation of Petroleum
Exporting Countries (OPEC). Alison-Madueke was shortly elected
President of OPEC at the ongoing 166th General Meeting of the body in
Vienna, Austria. She replaces former President of OPEC, Libyan Vice
Prime Minister for Corporations, Abdourhman Atahar Al-Ahirish. She was before her election the alternate president of OPEC and is
expected to immediately begin to serve her one-year term at the helm of
OPEC affairs.
OPEC is expected to at the 166th meeting, take
key decisions that could halt the dwindling price of crude oil.
Al-Ahirishhad in his opening remarks before the closed door meeting
stated that ample supply, moderate demand, a stronger US dollar and
uncertainties about global economic growth have been key factors in the
recent price trend.
This he noted was in addition to the impact of speculative activities in the oil market.
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