With the price of oil reaching highs of over US$100 in 2008, there aren't many more influential posts than that of OPEC Secretary General, currently held by Libyan El Badri. OPEC's member countries hold about two-thirds of the world's oil reserves and decide on how much oil should be supplied across the world- vastly influencing prices and supply.
However OPEC has made no mention of calls by oil-consuming countries, such as the US to raise, production to ease sky-high prices. El Badri remains unmoved. "If there is a recession, it won't be because of the oil price. It will be caused by the subprime mortgage crisis in the United States and other financial market problems," he defiantly told German magazine, Spiegel.
He is already chairman of the vast National Oil Corporation (NOC), and has served significant periods on the management teams of several major Arab oil companies.
In his role as boss of NOC he has been paramount in deciding whether to open up Libya to foreign investment, while now at OPEC he will play a key part in steering member countries towards pricing controls.
Little wonder, then, that most Western governments are pleading with him in a desperate bid to keep prices low.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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