The logo of the Organization of the Petroleum Exporting Countries (OPEC) is pictured at its headquarters in Vienna, Austria, May 30, 2016. REUTERS/Heinz-Peter Bader
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When OPEC's new chief starts next week, he'll take over an organization that's largely reconciled internal differences after a two-year fight over strategy.Nigerian Mohammed Barkindo will be the first new top official at the Organization of Petroleum Exporting Countries in almost a decade.While Barkindo's predecessor, Libya's Abdalla El-Badri, had been due to stand down in 2012 after serving the maximum two terms allowed by OPEC's rules, he was repeatedly asked to stay on as members failed to agree on a successor.Barkindo was acting secretary-general in 2006 and served for several years as one of Nigeria's OPEC representative.Coordination may be needed again in the future as rising fuel demand and the rout in non-OPEC supply makes the world more reliant on new supplies from OPEC, Wittner said.As OPEC's present strategy is to remain passive while the market corrects itself, Barkindo's first challenge may be to define the organization's function in this new context, said Jamie Webster, an independent analyst in Washington who regularly attends OPEC meetings.
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