Kuwaiti Candidate Has Widespread Support for Top OPEC Job, Sources Say

A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen during a meeting of OPEC and non-OPEC producing countries in Vienna, Austria September 22, 2017. (Reuters)
A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen during a meeting of OPEC and non-OPEC producing countries in Vienna, Austria September 22, 2017. (Reuters)
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Kuwaiti Candidate Has Widespread Support for Top OPEC Job, Sources Say

A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen during a meeting of OPEC and non-OPEC producing countries in Vienna, Austria September 22, 2017. (Reuters)
A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen during a meeting of OPEC and non-OPEC producing countries in Vienna, Austria September 22, 2017. (Reuters)

Kuwait's candidate to lead the Organization of the Petroleum Exporting Countries (OPEC) has widespread support from the group, with current secretary general Mohammad Barkindo not expected to seek re-election, two sources told Reuters.

Haitham al-Ghais, a former Kuwaiti governor to OPEC, is the only candidate for the role of secretary general, the two sources added.

OPEC is expected to elect a new secretary general at its meeting on Jan. 4, a third source said.

Nigerian Barkindo, whose is due to step down at the end of next July, took OPEC's top job in mid-2016 and was granted a second three-year term in 2019.

Barkindo has steered OPEC through a period of extreme turbulence, in which prices have crashed several times, including to below zero in 2020 because of the coronavirus pandemic.

He also helped to clinch a deal with non-OPEC producers such as Russia to reduce global oil output to balance the market since 2016.

The new secretary general will have to balance OPEC revenue needs against pressures from the United States to pump more oil to help to meet demand as it recovers from the COVID-19 pandemic.

Al-Ghais stepped down as Kuwait's OPEC governor in June this year and was appointed deputy managing director of international marketing at state-owned Kuwait Petroleum Corporation (KPC).



Trump Says US in Transition Period, Downplays Impact of Short-term Recession

US President Donald Trump reacts next to coal industry workers, on the day he signs energy-related executive orders at the White House in Washington, D.C., US, April 8, 2025. REUTERS/Nathan Howard/File Photo
US President Donald Trump reacts next to coal industry workers, on the day he signs energy-related executive orders at the White House in Washington, D.C., US, April 8, 2025. REUTERS/Nathan Howard/File Photo
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Trump Says US in Transition Period, Downplays Impact of Short-term Recession

US President Donald Trump reacts next to coal industry workers, on the day he signs energy-related executive orders at the White House in Washington, D.C., US, April 8, 2025. REUTERS/Nathan Howard/File Photo
US President Donald Trump reacts next to coal industry workers, on the day he signs energy-related executive orders at the White House in Washington, D.C., US, April 8, 2025. REUTERS/Nathan Howard/File Photo

President Donald Trump said the US was in a "transition period" and was going to do "fantastically" while downplaying the impact any short-term recession may have.

When asked during an interview with NBC News whether it would be OK to have a recession in the short term, Trump said: "Look, yeah, it's — everything's OK. What we are — I said, this is a transition period. I think we're going to do fantastically."

Trump's comment on the US economy being in a transition period echoed comments he made earlier on Friday in a social media post, in which he also cited strong employment and reiterated his call for the U.S. Federal Reserve to lower interest rates, Reuters reported.

"We’re only in a transition stage, just getting started!" he said in a Truth Social post. The post followed the release of US data that showed job growth slowed marginally for April.

Trump, who just passed his 100th day in office, has faced growing public discontent over his handling of the economy, with many economists predicting a wide range of tariffs imposed in recent months will drive up inflation and slow growth.