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
- Keystone Oil Pipeline Resumes Operations After Temporary Shutdown
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
- Enbridge to Invest $500 Million in Pipeline Assets, Including Expansion of 850-Mile Gray Oak Pipeline
- Williams Delays Louisiana Pipeline Project Amid Dispute with Competitor Energy Transfer
- MEG Energy Confirms Trans Mountain Pipeline Expansion to Begin Line Fill in April
- Evacuation Technologies to Reduce Methane Releases During Pigging
- Editor’s Notebook: Nord Stream’s $20 Billion Question
- Enbridge Receives Approval to Begin Service on Louisiana Venice Gas Pipeline Project
- Russian LNG Unfazed By U.S. Sanctions
- Biden Administration Buys Oil for Emergency Reserve Above Target Price
Comments