Thursday 14 January 2016

NIGERIA RULES OUT CUTTING OIL PRODUCTION IN ISOLATION OF OPEC

Nigeria Rules out Cutting Oil Production in Isolation of OPECNigeria said wednesday it would not cut oil production outside the framework of the Organisation of Petroleum Exporting Countries (OPEC), even as nose diving crude prices caused by a global supply glut have ravaged its revenue.
 
US crude oil prices fell below $30 a barrel on Tuesday, prompting Nigeria, an OPEC member country, to call for an emergency meeting to address collapsing prices that have drained the coffers of Africa’s largest economy.
 

No comments:

Post a Comment