VIENNA (Sputnik) – The organization’s statute limits the time a secretary general can spend in the post to a maximum of two three-year terms. The secretary general is authorized to direct OPEC affairs, while taking directions from the board of governors.
"Given the fact that Abdalla Salem el-Badri has served the full terms, the Conference has, therefore, agreed that he continues as Acting Secretary General until the end of July 2016, when a new Secretary General will be elected by Member Countries," OPEC said.
Oversupply of oil products and low demand sent global oil prices plummeting in 2014 and 2015, hurting oil-producing countries the most. Saudi Arabia has unilaterally moved to keep oil production at current levels, seen as an effort to inflict pain on it rivals like the Iran, Russia and the United States.
