DISCUSSION OF NIGERIA & LIBYA CAPPING OIL PRODUCTION NOT ON TABLE, FOR NOW (OPEC)

By: Economic & Finance Report

 

OPEC has insisted that oil output from Libya and Nigeria are not on the agenda in meeting in St. Petersburg, Russia next month to discus the pact OPEC members currently made to reduce oil supply flow.

Nigeria will cap oil production if it can maintain 1.8 barrels pumping, while Libya wants to maintain 1.25 barrels of oil flow. Libya and Nigeria are currently exempt from the curbing of oil production by OPEC. -SB

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