OPEC is seeking to change the way Americans think about the group, under threat of anti-OPEC legislation in Congress.
For many Americans, OPEC is the villain of the oil market, a secretive cabal whose members enrich themselves at the expense of the rest of the world by withholding petroleum and driving up the cost of the precious resource.
The key message is that OPEC is a stabilizing force in a volatile oil market prone to a destructive cycle of boom and bust. By opening the taps or throttling back supply, OPEC can keep oil flows and crude prices at sustainable levels — not too high to hurt consumers, but not too low to choke off necessary investment in future supply.
Those barbs have heightened concerns about anti-OPEC legislation advancing in Congress, injecting a urgency into Barkindo's project to reframe its role in the global market. Yet people who knew Barkindo before he rose to international prominence say the effort is little surprise. When he became OPEC's secretary general in 2016, he made an effort to bring in more outside voices and make the group more transparent, said Roger Diwan, vice president for financial services in IHS Markit's energy practice.
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