Sunday, 2 October 2016

OPEC exempts Nigeria from reducing production output

Organization of Petroleum Exporting Countries, OPEC, have exempted Nigeria, Iran and Libya from cutting production output given the peculiar internal challenges they found themselves.
It also agreed to commence the reduction of its members’ production output to about 740, 000 barrels per day in November 2016.
The daily production capacity of all members of the group at the moment stands at about 33.24 million barrels.
The decision to cut production by the group would
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