Exploration & Production

Nigeria and Libya may be forced to join OPEC output cuts

Nigeria and Libya may be forced to cut their oil production in line with OPEC quotas
By Staff reporter 6 December 2018 0 33581

Nigeria and Libya may be forced to cut their oil production in line with OPEC quotas, Nigeria’s ThisDay newspaper has reported.

The two countries are currently exempt from the output cut, which came into effect in January 2017, as a result of unrest that had hampered their production.

Under the deal, OPEC members and some non-members agreed to cut output by 1.8 million barrels of crude per day as part of efforts to remove excess supply from the market.

Nigeria and Libya...