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Nigeria seeks six months extension from OPEC cuts
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Nigeria seeks six months extension from OPEC cuts

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Nigeria will be seeking a six-month extension of the exemption it got from the production
freeze agreement reached by the Organisation of Petroleum Exporting Countries.

Minister of State for Petroleum Resources,Ibe Kachikwu, disclosed this.

Kachikwu said he believed that OPEC and non- members would agree to the request.

Thirteen OPEC members and 11 non-OPEC countries led by Russia agreed last November to reduce their production outputs by 1.8 million barrels per day for six months beginning from January this year.

It was an effort to drain the crude oil glut that had depressed price for over two years.

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