Nigeria will boost its compliance with OPEC+ cuts

The Minister of Petroleum, Timipre Sylva, has said Nigeria will raise its compliance with OPEC+ oil cuts to 100%, and will compensate for its overproduction in May and June, during the period of July-September, Saudi state news agency (SPA) reports.

According to SPA, the Minister of Petroleum in a phone call with his Saudi counterpart discussed the global oil markets, improvement in oil demand, and the progress made towards the full implementation of the OPEC+ pact.

Saudi energy minister Prince Abdulaziz bin Salman, who heads the OPEC+ panel known as the JMMC, which monitors adherence to the cuts, has emphasized the importance for all OPEC+ countries to meet their agreed output targets under the pact to accelerate oil market rebalancing, according to the joint statement.

NigeriaOPEC+saudi arabiaSaudi state news agency
Comments (0)
Add Comment