OPEC largely contributed to the decline in oil prices by refusing to cut production in November 2014, choosing to defend its share of the market rather than the oil price. Analysts believe that Barkindo's appointment will do nothing to change the group's strategy which was seen as a way to put pressure on rival non-OPEC producers, particularly shale oil producers in the U.S. and Canada.
Since then, the group has continued its strategy of record-high production despite the damage it has done to its members' economies, in terms of lower oil export revenues. Known as OPEC's "fragile five," Venezuela, Nigeria, Algeria, Iraq and Libya have been most worst-hit by the group's decision to maintain record-high production often above the official limit of 30 million barrels a day.
"It's a positive step that OPEC was able to agree on Barkindo's appointment and he's from outside of the main rivalries in the group but we shouldn't overate the role he will play in terms of policy," Richard Mallinson, who leads the analysis of international affairs and energy policy at Energy Aspects, told CNBC on Monday.
"His appointment won't make much difference as OPEC policy will still come down to whether individual members can agree on a common position," he added.
When OPEC last met in June, its 14 members (Gabon rejoined in June and Indonesia returned to the group last year) failed again to agree on any measures to shore-up prices continuing a policy of non-intervention as it said that markets were on their way to rebalancing.
Mallinson sounded an optimistic note that Barkindo's appointment could herald a period of easier relations once the oversupply in oil markets had worked itself out of the system (with expected higher demand coming from India and continued non-OPEC oil supply declines still expected next year).
"I do think though that there may be more potential for co-operation once the period of low oil prices and the rebalancing period has passed," he added.