The Organization of Petroleum Exporting Countries,OPEC announced the re-election of Nigeria’s Mohammed Barkindo as Secretary Generalfor a three-year tenure. Barkindo, who is an accomplished oil technocrat witha wealth of experience in the oil and gas sector, was first elected asSecretary General of the body in 2016. Addressing newsmen at the end of the 176 meeting of OPEC member nations, President ofthe conference, Salvador Fernandez also announced a nine- month extension ofthe global oil production cut under the “ Declaration of Cooperation “ amongmember states. The “Declaration of Cooperation”, an outcome of theJoint OPEC-Non-OPEC Producing Countries’ Ministerial Meeting held on December10th, 2016, was effective for an initialperiod of six months. The Second Joint OPEC-Non-OPEC Producing Countries’Ministerial Meeting, which was held on May 25th, 2017 decided to extend thevoluntary production adjustments for another nine months beginning July 1,2017.