The governors started their two-day meeting at 10 a.m. local time at OPEC’s headquarters and will interview nominees from Iran and Iraq as well as the group’s biggest and smallest exporters, Saudi Arabia and Ecuador. The governors will recommend a successor to Libya’s Abdalla el-Badri, who completes a second, three-year term at the end of this year. A final decision will be taken by ministers in December.
“The secretary-general does play an important role, with implications beyond the oil markets,” Ehsan Ul-Haq, senior market consultant at KBC Energy Economics, a unit of KBC Advanced Technology Plc, said by phone from Walton-on-Thames, England on Oct. 19. “He has to represent all opinions despite differences between member countries.”