Nigeria Defies Calls To Curb Crude Oil Output

Although it faces mounting pressure to join OPEC’s production cuts, exempt producer Nigeria will resist any attempt to cut its oil output because it needs time at least until March next year to make sure its production gains are sustainable, Oil Minister Emmanuel Kachikwu told the Financial Times in an interview published on Tuesday. “We have a nine-month exemption period within which to come back to the table,” Kachikwu told FT. “You need that timeframe to see if any recovery is sustainable,” the minister added, putting…

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