From the Field
Saudi Arabia, Nigeria oil ministers hold briefing
ABUJA, November 28, 2018 – Nigerian Minister of State for Petroleum Resources Emmanuel Kachikwu and Saudi Arabian Energy, Industry and Mineral Resources Minister Khalid A. Al Falih are set to hold a joint press conference Wednesday, international and local media have reported.
The meeting will take place in Abuja, according to Reuters.
“The engagement is part of moves currently initiated by OPEC members to have a clear direction ahead of its planned meeting next month,” Vanguard quoted an anonymous ministry source as saying.
OPEC officials have been speaking publicly about the potential for the cartel and its partners to limit crude supply in 2019 to boost prices.
Nigeria has been exempted from previous production caps as it tries to raise output after militant disruptions to production and pipelines. Last year, the country announced a voluntary limit of 1.8 million bopd.