Nigeria Will Boost Compliance with OPEC+ Cuts — SPA
DUBAI (Reuters) — Nigeria's oil minister said his country 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, according to a report by Saudi state news agency SPA.
Nigeria's Timipre Sylva, 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, according to SPA.
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.
Related News
Related News
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- US Poised to Become Net Exporter of Crude Oil in 2023
- EIG’s MidOcean Energy Acquires 20% Stake in Peru LNG, Including 254-Mile Pipeline
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Newsom Seeks to Aid Struggling Refiners Following Valero’s California Exit
Comments