OPEC chief hails Rex Tillerson pick for US secretary of state

Barkindo was speaking at a forum on the global outlook for oil at the Center for Strategic and International Studies, where Tillerson is a member of the board of trustees.

Trump earlier on Tuesday unveiled Tillerson as his pick for the top American diplomat, drawing sharp criticism because of the oil executive’s close ties to Russian President Vladimir Putin as well as his lack of experience in public service.

But Barkindo said Tillerson “will be a great asset to the incoming administration,” and called the appointment “well-deserved.”

In a bid to end a global supply glut, which had sent prices tumbling over the summer, OPEC in November agreed to cut output by 1.2 million barrels per day. And 11 non-OPEC members on Saturday also agreed to cut production by more than a half-million barrels per day.