OPEC Head Barkindo Dies At 63 In 'shock' To Oil Cartel

OPEC's secretary general, Nigeria's Mohammad Barkindo, has died at the age of 63, leaving the oil cartel in "shock" on Wednesday at a tumultuous time for the markets

Vienna, July 6 (APP - UrduPoint / Pakistan Point News - 6th Jul, 2022 ) :OPEC's secretary general, Nigeria's Mohammad Barkindo, has died at the age of 63, leaving the oil cartel in "shock" on Wednesday at a tumultuous time for the markets.

Barkindo had headed the Organization of the Petroleum Exporting Countries since 2016 and was scheduled to be replaced by Kuwait's Haitham Al-Ghais next month.

Under his stewardship, the cartel forged ties with Russia and nine other oil-producing countries to form a wider group known as OPEC+ in a bid to better stabilise oil markets.

After OPEC+ slashed output during the pandemic to boost prices, the 23-member group's moves have not calmed markets -- with record high prices -- in recent months amid the war in Ukraine.

Barkindo died late Tuesday and will be buried on Wednesday in his home town of Yola, according to the Nigerian National Petroleum Corporation's chief executive Mele Kyari.