The minister of Petroleum Resources, Mrs. Diezani Alison-Madueke has been elected the first female president of the Organisation of Petroleum Exporting Countries (OPEC).
She was elected on Thursday at the 166th General Meeting of OPEC in Vienna, Austria.
She replaces former President of OPEC, Libyan Vice Prime Minister for Corporations, Abdourhman Atahar Al-Ahirish.
She was the alternate president of OPEC before she was elected as president of the body this morning and it is expected she begin to serve her one year term in the helms of affairs of OPEC.
OPEC is expected to take key decisions that could halt the dwindling price of crude oil at the meeting.
Al-Ahirishhad in his opening remarks before the closed door meeting stated that ample supply, moderate demand, a stronger US dollar and uncertainties about global economic growth have been key factors in the recent price trend.
This, he noted, was in addition to the impact of speculative activities in the oil market.
